From 6 to 8 May, the Economic Commission for Latin America and the Caribbean (ECLAC) will host the XXXVI Regional Seminar on Fiscal Policy, a renowned international forum that has brought together leaders, specialists, civil society, and academia for 36 years to discuss fiscal policy challenges faced by countries in the region.
Leaders from the Ministries of Finance of 13 countries across the region will participate in the meeting, along with renowned experts from international organisations, academia, civil society organisations and NGOs.
The seminar will include presentations by leaders, ac…
La Comisión Económica para América Latina y el Caribe (CEPAL) celebrará del 6 al 8 de mayo la XXXVI edición del Seminario Regional de Política Fiscal, reconocido foro regional que durante 36 años ha convocado a autoridades, especialistas, sociedad civil y academia para dialogar sobre los desafíos de política fiscal que enfrentan los países de la región.
En la reunión participarán autoridades de los Ministerios de Hacienda de 13 países de la región y reconocidos expertos de organismos internacionales, academia, organizaciones de sociedad civil y organizaciones no gubernamentales.
El encuentro …
United States gross domestic product rose by 2.5% in 2023. The above-potential growth was driven by resilient consumers, supported by a strong labour market and receding inflation. In 2023, 3 million new jobs were added on an annual basis, and the unemployment rate was 3.7% at the end of December. Inflation was reduced by half relative to 2022, declining from an annual rate of 8% in 2022 to 4.1% in 2023.
Cognizant of the strength of the U.S. economy, the Federal Reserve is nevertheless adopting a “wait and see” approach rather than declaring an immediate end to its monetary tightening cycle, w…
This article presents a stock-flow consistent model for the Central American economies. It is part of a project to develop a stock-flow consistent workhorse model applicable to different country cases in Latin America and the Caribbean. The model’s logical and behavioural relationships are based on a set of stylized facts characterizing the Central American economies. The model includes five institutional sectors (consumers, firms, the government, the central bank and the rest of the world). The five sectors trade in seven financial assets: (i) public debt issued in domestic and foreign curren…
En este artículo se presenta un modelo stock-flujo consistente con un módulo ecológico para las economías centroamericanas. El modelo se basa en un conjunto de hechos estilizados. Incluye cinco sectores institucionales (consumidores, empresas, gobierno, banco central y resto del mundo) y siete activos financieros: i) deuda pública emitida en moneda nacional y extranjera, ii) deuda privada emitida en moneda nacional, iii) deuda emitida por el resto del mundo, iv) préstamos de los bancos al sector privado para inversión y crédito al consumo, v) depósitos públicos y privados, vi) préstamos del re…
Latin American and Caribbean bond issuance in international markets totalled US$ 76.4 billion in the first 10 months of 2023, rebounding from the low volumes recorded in 2022. This figure represented a 30% increase compared to the same period in 2022 and was 20% higher than the annual volume. Issuers that have been waiting for lower borrowing costs are gradually returning to the international market, as they anticipate the end to global interest rate hikes while accepting that rates may remain higher for longer.
The region issued US$ 23.2 billion in international green, social, sustainability …
Latin American and Caribbean bond issuance in international markets totalled US$ 89 billion in 2023, 40% higher than the figure recorded in 2022, but still 35% lower than the average annual level in the three-year period from 2019 to 2021. The average coupon on the region’s bonds issued in international markets was 1.65 percentage points higher than in 2022. Indicating a strong start to the year, international bond issuance amounted to US$ 31.19 billion in January 2024, the region’s third-highest monthly total.
In 2023, the region issued US$ 31 billion in green, social, sustainability and sust…
This overview examines the economic performance of economies of the Caribbean in 2022 and comprises four chapters. The first chapter provides a comparative analysis across Caribbean economies of the main macroeconomic variables, namely GDP growth, monetary indicators, as well as fiscal and external accounts. The second chapter concludes, while the annex includes individual country briefs that give an overview of the economic situation for the Bahamas, Barbados, Belize, Guyana, Jamaica, Suriname, Trinidad and Tobago, and a subregional assessment of the countries of the Eastern Caribbean Currenc…
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