Fiscal Panorama of Latin America and the Caribbean 2016: Public finances and the challenge of reconciling austerity with growth and equality

Latin America’s fiscal accounts deteriorated slightly during 2015, registering an average deficit of 3.0% of GDP and average gross public debt of 34.7% of GDP. Of the 19 countries considered, the fiscal deficit and public debt as a share of GDP both increased in 11. The region started to build up public debt, most of it domestic, after the 2008 international financial crisis to meet the growing financing needs resulting from the worsening growth situation.

Proposal on debt for climate adaptation swaps: a strategy for growth and economic transformation of Caribbean economies

ECLAC advocates that the Caribbean’s high debt dilemma was not principally driven by policy missteps, or the international financial crisis. Rather, it finds its roots in external shocks, compounded by the inherent structural weaknesses and vulnerabilities confronting Caribbean SIDS and their limited capacity to respond. A major factor has been the underperformance of the export sector, partly due to a decline in competitiveness and a slowdown in economic activity especially among the tourism-dependent economies. Caribbean countries have also accumulated debt as a consequence of increased expenditures to address the impact of extreme events and climate change attendant difficulties. Most Caribbean countries are located in the hurricane belt and are also prone to earthquakes and other hazards. Indeed, a disaster resulting in damage and losses in excess of 5 per cent of GDP can be expected to hit any Caribbean country every few years. Moreover, over the period 2000-2014, it is estimated that the economic cost of natural disasters in Caribbean countries was in excess of US$30.7 billion. The English Speaking Caribbean countries are extremely vulnerable to natural disasters.

Beyond Bretton Woods: what international monetary and financial system for the twenty-first century?

Includes bibliography

Necesidades financieras del Decenio Internacional del Agua Potable y del Saneamiento Ambiental en América Latina = Financial demands of the International Drinking Water Supply and Sanitation Decade in Latin America

Incluye Bibliografía

Necesidades financieras del Decenio Internacional del Agua Potable y del Saneamiento Ambiental en América Latina = Financial demands of the International Drinking Water Supply and Sanitation Decade in Latin America

Incluye Bibliografía

Cuestiones de comercio internacional y finanzas internacionales = International trade and financial issues = Questions de commerce international et de finances internationales

Nota sobre actividades realizadas y actividades propuestas para el proximo periodo en materia de comercio internacional y finanzas internacionales.

International trade and financial issues

Contiene un informe de actividades realizadas por la Secretaria del CDCC respecto a asuntos financieros y de comercio internacional.

Global financial rulemaking and small economies

This paper addresses some unintended consequences of global financial regulation and international tax evasion prevention and their impact on small economies. It explores how failure to recognize countries’ differing access to finance and varying costs of funding as well as the high costs of complying with financial regulations may overlook some unintended consequences, especially on smaller island countries Then, it discusses the global financial architecture and governance of standard setting bodies and the actions taken to improve representation and legitimacy and remediate some of the unintended deleterious effects on emerging markets and developing economies (EMDEs). Improving governance is ever more urgent at a time when financing the post-2015 agenda will require mobilization of both public and private funds at the national, regional and global levels.