Fiscal Panorama of Latin America and the Caribbean 2015: Policy space and dilemmas. Executive Summary

The present document provides an up-to-date overview of public debt and fiscal space in the region. The main conclusions show that public debt levels are low in Latin America and high in the Caribbean. Overall, the region has enough fiscal space to apply countercyclical policies and boost production development and the fiscal management of non-renewable natural resources needs to be modernized. It explains that fiscal policy has a very limited impact on the distribution of disposable income and in a volatile macroeconomic environment, reforms should aim to strengthen personal income tax.

Policy brief: biotechnology with special reference to the Caribbean

The biotechnology movement in the Caribbean is a fledgling industry that has tremendous potential for development. It focuses on the use of fermentation and enzyme technologies, tissue culture and recombinant DNA (rDNA) technology and is more greatly applied to plant varieties rather than animal species. Tissue culture is by far the most developed type of technology but increasing attention is being paid to rDNA technology. Main areas include application in the agriculture sector but the use in medicine and biology are also being promoted. In its purest form, the term "biotechnology" refers to the use of living organisms or their products to modify human health and the human environment for commercial purposes. The term brings to mind many different things. Some think of developing new types of animals while others anticipate almost unlimited sources of human therapeutic drugs. Still others envision the possibility of growing crops that are more nutritious and naturally pest-resistant to feed a rapidly growing world population. Biotechnology in one form or another has flourished since prehistoric times. When the first human beings realized that they could plant their own crops and breed their own animals, they learned to use biotechnology. The discovery that fruit juices fermented into wine or that milk could be converted into cheese or yogurt, or that beer could be made by fermenting solutions of malt and hops began the study of biotechnology. When the first bakers found that they could make soft, spongy bread rather than a firm, thin cracker, they were acting as fledgling biotechnologists. The first animal breeders, realizing that different physical traits could be either magnified or lost by mating appropriate pairs of animals, engaged in the manipulations of biotechnology. Throughout human history, we have learned a great deal about the different organisms that our ancestors used so effectively. The marked increase in our understanding of these organisms and their cell products gains us the ability to control the many functions of various cells and organisms. Using the techniques of gene splicing and recombinant DNA technology, we can now actually combine the genetic elements of two or more living cells. Functioning lengths of DNA can be taken from one organism and placed into the cells of another organism. As a result, for example, we can cause bacterial cells to produce human molecules. Cows can produce more milk for the same amount of feed. And we can synthesize therapeutic molecules that have never before existed.

Climate change in Central América: Potential impacts and public policy options

Since 2008 we have supported the collaborative initiative "Economics of Climate Change in Central America" aimed at demonstrating the impacts of climate variability and change and fostering a discussion on public policies in key sectors. The initiative has been led by the Ministries of Environment and Treasury or Finance of Central America, with the support of their ministerial councils, CCAD, COSEFIN, and Economic Integration Secretariat, SIECA. The Ministries of Agriculture and of Health, with their councils, CAC and COMISCA, have also joined the effort; and the Dominican Republic came on board in 2015.