Regional Economic Outlook October 2021 Western Hemisphere A Long And Winding Road To Recovery

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Regional Economic Outlook, October 2021, Western Hemisphere: A Long Winding Road to Recovery

International Monetary,International Monetary Fund. Western Hemisphere Dept.
Regional Economic Outlook October 2021 Western Hemisphere A Long Winding Road to Recovery Book PDF

Author : International Monetary,International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 52 pages
File Size : 53,5 Mb
Release : 2021-10-21
Category : Business & Economics
ISBN : 9781513593968

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Regional Economic Outlook, October 2021, Western Hemisphere: A Long Winding Road to Recovery by International Monetary,International Monetary Fund. Western Hemisphere Dept. Pdf

An economic recovery is underway in Latin America and the Caribbean (LAC) but the pandemic still casts shadows on much of the region. The recovery was robust in the first quarter of 2021 but lost momentum in some countries in the second quarter, reflecting the rebound in COVID-19 cases. Real GDP is projected to grow by 6.3 percent in 2021, followed by a more moderate growth of 3 percent in 2022, but would not catch up with pre-pandemic trends in the medium term as persistent weakness in labor markets raises risks of scarring. Broadly favorable external conditions, high commodity prices, and pent-up demand support short-term growth, while monetary and fiscal policy reversals work in the other direction. Risks to the outlook are tilted downward. Main downside risks are the emergence of more transmissible and deadlier COVID-19 variants, tightening of global financial conditions, sovereign debt rollover risks, and social unrest as a year with heavy election schedule looms. Fiscal policy should allocate sufficient resources for health spending, including vaccination, and continue to support households and firms in a more targeted fashion while the pandemic persists, backed by credible assurances of medium-term debt sustainability to maintain access to finance. Monetary policy has started to address inflationary pressures but should continue to support economic activity insofar as the dynamics of inflation expectations permit. If rising inflation threatens to de-anchor inflation expectations, central banks should tighten monetary policy to signal a commitment to inflation targets and avoid persistent increases in inflation. Preemptive and decisive action should be accompanied with clear and transparent communication. Financial policy should shift from blanket support to targeted support of viable firms, to ensure that necessary labor and capital reallocations are not hindered. Supply-side policies should foster inclusive growth, including through progressive and growth-friendly tax reforms and measures to intensify climate change adaptation and mitigation.

Regional Economic Outlook, October 2021, Western Hemisphere: A Long and Winding Road to Recovery

INTERNATIONAL MONETARY FUND.
Regional Economic Outlook October 2021 Western Hemisphere A Long and Winding Road to Recovery Book PDF

Author : INTERNATIONAL MONETARY FUND.
Publisher : International Monetary Fund
Page : 51 pages
File Size : 55,6 Mb
Release : 2021-10-21
Category : Business & Economics
ISBN : 9781513593838

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Regional Economic Outlook, October 2021, Western Hemisphere: A Long and Winding Road to Recovery by INTERNATIONAL MONETARY FUND. Pdf

An economic recovery is underway in Latin America and the Caribbean (LAC) but the pandemic still casts shadows on much of the region. The recovery was robust in the first quarter of 2021 but lost momentum in some countries in the second quarter, reflecting the rebound in COVID-19 cases. Real GDP is projected to grow by 6.3 percent in 2021, followed by a more moderate growth of 3 percent in 2022, but would not catch up with pre-pandemic trends in the medium term as persistent weakness in labor markets raises risks of scarring. Broadly favorable external conditions, high commodity prices, and pent-up demand support short-term growth, while monetary and fiscal policy reversals work in the other direction. Risks to the outlook are tilted downward. Main downside risks are the emergence of more transmissible and deadlier COVID-19 variants, tightening of global financial conditions, sovereign debt rollover risks, and social unrest as a year with heavy election schedule looms. Fiscal policy should allocate sufficient resources for health spending, including vaccination, and continue to support households and firms in a more targeted fashion while the pandemic persists, backed by credible assurances of medium-term debt sustainability to maintain access to finance. Monetary policy has started to address inflationary pressures but should continue to support economic activity insofar as the dynamics of inflation expectations permit. If rising inflation threatens to de-anchor inflation expectations, central banks should tighten monetary policy to signal a commitment to inflation targets and avoid persistent increases in inflation. Preemptive and decisive action should be accompanied with clear and transparent communication. Financial policy should shift from blanket support to targeted support of viable firms, to ensure that necessary labor and capital reallocations are not hindered. Supply-side policies should foster inclusive growth, including through progressive and growth-friendly tax reforms and measures to intensify climate change adaptation and mitigation.

Regional Economic Outlook: Western Hemisphere

International Monetary Fund. Western Hemisphere Dept.
Regional Economic Outlook Western Hemisphere Book PDF

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : INTERNATIONAL MONETARY FUND
Page : 0 pages
File Size : 51,5 Mb
Release : 2022-11-02
Category : Business & Economics
ISBN : 9798400220968

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Regional Economic Outlook: Western Hemisphere by International Monetary Fund. Western Hemisphere Dept. Pdf

Recent developments in the Western Hemisphere—that is, the United States/Canada and Latin America and the Caribbean (LAC)—have been dominated by the impact of two distinct global shocks: the COVID-19 pandemic and then the Russian invasion of Ukraine. A third shock—the tightening of financial conditions—is now shaping the outlook. After contracting sharply in 2020, most of the Western Hemisphere’ economies recovered strongly in 2021 and early 2022, helped by the global recovery, the normalization of service sectors, and booming commodity prices. However, inflation pressures built up with pandemic-related disruptions, expansionary policies, rebounding demand, and the impact of the war in Ukraine on energy and food prices. The swift response of LAC’s monetary authorities to rising inflation—well ahead of other economies—helped contain price pressures and keep long-term inflation expectations anchored, but inflation remains high. Amid global monetary and financial tightening, and the ensuing slowdown in global growth and softening of commodity prices, activity is expected to decelerate throughout the Western Hemisphere in late 2022 and 2023, while inflation pressures are expected to recede gradually. Downside risks dominate the outlook and stem from tighter financial conditions, a more pronounced global slowdown, and entrenched inflation. For LAC, a sharp fall in commodity prices and social unrest are important risks. With inflation yet to abate and most economies still operating at or near potential, monetary policy should avoid easing prematurely and must stay the course. Clear communication of policy intentions will be key to reducing uncertainty and keeping inflation expectations anchored. Fiscal support deployed to mitigate the impact of inflation on the most vulnerable should be accompanied by compensating measures, where fiscal space does not exist, but also support monetary authorities’ efforts to tame inflation. Given rising financing costs, strengthening fiscal frameworks and advancing with inclusive fiscal consolidation—that protects key social objectives—will be essential to credibly putting public debt on a firm downward path while ensuring social stability. Boosting LAC’s medium-term growth requires raising productivity and good-quality public and private investment. Supply-side policies should focus on strengthening human capital, simplifying and modernizing labor regulations, and lifting barriers to firm entry and exit.

Regional Economic Outlook, October 2018, Western Hemisphere Department

International Monetary Fund. Western Hemisphere Dept.
Regional Economic Outlook October 2018 Western Hemisphere Department Book PDF

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 36 pages
File Size : 40,9 Mb
Release : 2018-10-12
Category : Business & Economics
ISBN : 9781484376843

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Regional Economic Outlook, October 2018, Western Hemisphere Department by International Monetary Fund. Western Hemisphere Dept. Pdf

Amid escalating trade tensions, tighter financial conditions, and volatile commodity markets, economic recovery in Latin America and the Caribbean has both moderated and become more uneven.

Regional Economic Outlook, October 2015: Western Hemisphere Department

International Monetary Fund. Western Hemisphere Dept.
Regional Economic Outlook October 2015 Western Hemisphere Department Book PDF

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 108 pages
File Size : 53,8 Mb
Release : 2015-10-07
Category : Business & Economics
ISBN : 9781513575209

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Regional Economic Outlook, October 2015: Western Hemisphere Department by International Monetary Fund. Western Hemisphere Dept. Pdf

Economies in the Western Hemisphere are generally seeing a slowdown in growth. The U.S. economy regained momentum after a slow start at the beginning of the year, while in Latin America and the Caribbean economic activity continues to decelerate. Stronger U.S. growth should benefit countries in the region, especially those with tighter links through trade, remittances, and tourism (Mexico, Central America, and the Caribbean). Weaker commodity prices for the foreseeable future, however, will continue to hurt South America's net commodity exporters, lowering national incomes, reducing investment, and worsening fiscal balances. These developments could, in turn, impede progress made in recent years in poverty reduction. These developments could, in turn, impede progress made in recent years in poverty reduction. Key risks, including an abrupt tightening of U.S. interest rates or a further slowdown in China, may disproportionately affect Latin America. Chapters in this report examine monetary policy in Latin America, including the region’s exposure to global financial shocks; the role of value chains and regional trade agreements in fostering trade integration; and financial market development in the region.

Regional Economic Outlook, October 2021, Asia and Pacific

International Monetary,International Monetary Fund. Asia and Pacific Dept
Regional Economic Outlook October 2021 Asia and Pacific Book PDF

Author : International Monetary,International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 1 pages
File Size : 52,9 Mb
Release : 2021-10-19
Category : Business & Economics
ISBN : 9781513593784

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Regional Economic Outlook, October 2021, Asia and Pacific by International Monetary,International Monetary Fund. Asia and Pacific Dept Pdf

Fall 2021 Regional Economic Outlook: Asia and Pacific--Navigating Waves of New Variants: Pandemic Resurgence Slows the Recovery

Regional Economic Outlook, October 2010, Western Hemisphere

International Monetary Fund. Western Hemisphere Dept.
Regional Economic Outlook October 2010 Western Hemisphere Book PDF

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 106 pages
File Size : 53,7 Mb
Release : 2010-10-19
Category : Business & Economics
ISBN : 9781589069534

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Regional Economic Outlook, October 2010, Western Hemisphere by International Monetary Fund. Western Hemisphere Dept. Pdf

Heating Up in the South, Cooler in the North broadly describes the economic scene for the Western Hemisphere. The report emphasizes how a mixed environment--with slow recovery in the United States and other advanced economies, but strength in Asia--differently shapes the outlooks for the diverse economies of Latin America and the Caribbean. This issue also focuses on financial issues in Latin America, with a chapter on the challenges of allowing credit to expand safely, without creating excessive risks, and a chapter that looks at macroprudential financial policies--topics especially important in today's context of low global interest rates and capital flows to emerging economies. The final chapter turns to Caribbean economies, exploring the drivers, and obstacles, that affect their growth.

Regional Economic Outlook, October 2019, Western Hemisphere Department

International Monetary Fund. Western Hemisphere Dept.
Regional Economic Outlook October 2019 Western Hemisphere Department Book PDF

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 35 pages
File Size : 48,7 Mb
Release : 2019-10-28
Category : Business & Economics
ISBN : 9781513515502

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Regional Economic Outlook, October 2019, Western Hemisphere Department by International Monetary Fund. Western Hemisphere Dept. Pdf

Regional Economic Outlook, October 2019, Western Hemisphere Department

Regional Economic Outlook, May 2010, Western Hemisphere

International Monetary Fund. Western Hemisphere Dept.
Regional Economic Outlook May 2010 Western Hemisphere Book PDF

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : INTERNATIONAL MONETARY FUND
Page : 0 pages
File Size : 50,5 Mb
Release : 2010-05-10
Category : Business & Economics
ISBN : 1589069218

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Regional Economic Outlook, May 2010, Western Hemisphere by International Monetary Fund. Western Hemisphere Dept. Pdf

A multispeed global recovery is under way, with some emerging markets in the lead and the major advanced economies growing more slowly. This macroeconomic setting has brought a return to easy global financial conditions and high commodity prices-a situation likely to be sustained for some time but unlikely to be permanent. Against that external backdrop, the recovery in the Latin America and Caribbean region overall is advancing faster than anticipated, but moving at different speeds across countries. The report discusses the varying policy challenges that different countries face as the global recovery proceeds. Chapter 1 analyzes the global setting and the outlook for the United States and Canada in particular, while Chapter 2 focuses on the outlook for Latin America and the Caribbean. Chapter 3 looks in depth at the challenges arising from the return of easy external financial conditions. Together with high commodity prices, such conditions represent favorable "tailwinds" for many countries of the region, but also carry risks for policymakers to address.

Comparative Assessment of Social Issues in Africa, Latin America, and the Caribbean

Brenda I. Gill,George K. Danns
Comparative Assessment of Social Issues in Africa Latin America and the Caribbean Book PDF

Author : Brenda I. Gill,George K. Danns
Publisher : Rowman & Littlefield
Page : 399 pages
File Size : 45,8 Mb
Release : 2023-07-10
Category : Social Science
ISBN : 9781793642509

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Comparative Assessment of Social Issues in Africa, Latin America, and the Caribbean by Brenda I. Gill,George K. Danns Pdf

Using a comparative framework, this edited volume evaluates pressing social issues facing African, Latin American, and Caribbean countries. Unique in its comparative and multi-regional perspective, this book provides a scholastic and practical understanding on questions ranging from governance and security to poverty, inequality, and population health.

World Economic Situation and Prospects 2022

Department of Economic and Social Affairs
World Economic Situation and Prospects 2022 Book PDF

Author : Department of Economic and Social Affairs
Publisher : United Nations
Page : 232 pages
File Size : 40,7 Mb
Release : 2022-01-13
Category : Business & Economics
ISBN : 9789210011839

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World Economic Situation and Prospects 2022 by Department of Economic and Social Affairs Pdf

This is the United Nations definitive report on the state of the world economy, providing global and regional economic outlook for 2022 and 2023. The World Economic Situation and Prospects 2022 will examine the recovery of the global economy from the COVID-19 pandemic. In addition to presenting the latest UN growth forecasts, the report will provide a comprehensive assessment of economic developments, risk factors, and policy challenges. This year’s thematic chapter will discuss the macroeconomic and distributional consequences of monetary policy, with particular focus on unconventional measures such as quantitative easing (QE).

Closing Peru's Ethnic Gaps Amidst Sustained Economic Growth

Carlos Chavez,Mr. Gonzalo Salinas,Yuri Zamora
Closing Peru s Ethnic Gaps Amidst Sustained Economic Growth Book PDF

Author : Carlos Chavez,Mr. Gonzalo Salinas,Yuri Zamora
Publisher : International Monetary Fund
Page : 48 pages
File Size : 55,7 Mb
Release : 2022-09-09
Category : Business & Economics
ISBN : 9798400220333

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Closing Peru's Ethnic Gaps Amidst Sustained Economic Growth by Carlos Chavez,Mr. Gonzalo Salinas,Yuri Zamora Pdf

We analyze the recent evolution of ethnic economic inequality in Peru, a major source of social discontent in the country. Household survey data indicates that recent decades of high output growth also witnessed a substantial narrowing of socioeconomic gaps among ethnicities. Most notably, the Mestizo ethnic group surpassed the White group in income per capita, and Native American also experienced a relative improvement. Mincerian regression analysis suggests that the main contributors to these developments were rural-to-urban migration and increased education. Based on our statistical findings, we propose enhancing education and other public services, increasing government revenues, lowering informality, and promoting competition as the main public policies that could accelerate the ongoing narrowing of ethnic gaps.

Tax Policy for Inclusive Growth in Latin America and the Caribbean

Santiago Acosta-Ormaechea,Samuel Pienknagura,Carlo Pizzinelli
Tax Policy for Inclusive Growth in Latin America and the Caribbean Book PDF

Author : Santiago Acosta-Ormaechea,Samuel Pienknagura,Carlo Pizzinelli
Publisher : International Monetary Fund
Page : 41 pages
File Size : 51,5 Mb
Release : 2022-01-21
Category : Electronic
ISBN : 9781616358297

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Tax Policy for Inclusive Growth in Latin America and the Caribbean by Santiago Acosta-Ormaechea,Samuel Pienknagura,Carlo Pizzinelli Pdf

Tax Policy for Inclusive Growth in Latin America and the Caribbean

Economic Principles for Integrating Adaptation to Climate Change Into Fiscal Policy

Mr. Matthieu Bellon,Emanuele Massetti
Economic Principles for Integrating Adaptation to Climate Change Into Fiscal Policy Book PDF

Author : Mr. Matthieu Bellon,Emanuele Massetti
Publisher : International Monetary Fund
Page : 34 pages
File Size : 53,7 Mb
Release : 2022-03-23
Category : Business & Economics
ISBN : 9781513592374

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Economic Principles for Integrating Adaptation to Climate Change Into Fiscal Policy by Mr. Matthieu Bellon,Emanuele Massetti Pdf

Adaptation to climate change is a necessity for advanced and developing economies alike. Policymakers face the challenge of facilitating this transition. This Note argues that adaptation to climate change should be part of a holistic development strategy involving both private and public sector responses. Governments can prioritize public investment in adaptation programs with positive externalities, address market imperfections and policies that make private adaptation inefficient, and mobilize revenues for, and distribute the benefits of, adaptation. Although the choice of what should be done and at what cost ultimately depends on each society’s preferences, economic theory provides a useful framework to maximize the impact of public spending. Cost-benefit analysis, complemented by the analysis of distributional effects, can be used to prioritize adaptation programs as well as all other development programs to promote an efficient and just transition to a changed climate. While compensations may be needed to offset damages that are either impossible or too expensive to abate, subsidies for adaptation require careful calibration to prevent excessive risk taking.

Planning and Mainstreaming Adaptation to Climate Change in Fiscal Policy

Emanuele Massetti,Mr. Matthieu Bellon
Planning and Mainstreaming Adaptation to Climate Change in Fiscal Policy Book PDF

Author : Emanuele Massetti,Mr. Matthieu Bellon
Publisher : International Monetary Fund
Page : 28 pages
File Size : 44,7 Mb
Release : 2022-03-23
Category : Business & Economics
ISBN : 9798400201950

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Planning and Mainstreaming Adaptation to Climate Change in Fiscal Policy by Emanuele Massetti,Mr. Matthieu Bellon Pdf

This Staff Climate Note is part of a series of three Notes (IMF Staff Climate Note 2022/001, 2022/002, and 2022/003) that discuss fiscal policies for climate change adaptation. A first Note (Bellon and Massetti 2022, henceforth Note 1) examines the economic principles that can guide the integration of climate change adaptation into fiscal policy. It argues that climate change adaptation should be part of a holistic, sustainable, and equitable development strategy. To maximize the impact of scarce resources, governments need to prioritize among all development programs, including but not limited to adaptation. To this end, they can use cost-benefit analysis while ensuring that the decision-making process reflects society’s preferences about equity and uncertainty. A second Note (Aligishiev, Bellon, and Massetti. 2022, henceforth Note 2) discusses the macro-fiscal implications of climate change adaptation. It reviews evidence on the effectiveness of adaptation at reducing climate change damages, on residual risks, and on adaptation investment needs, and suggests ways to integrate climate risks and adaptation costs into national macro-fiscal frameworks with the goal of guiding fiscal policy. It stresses that lower-income vulnerable countries, which have typically not contributed much to climate change, face exacerbated challenges that warrant increased international support. This third Note considers how to translate adaptation principles and estimates of climate impacts into effective policies.