South America

L’océan Atlantique, dans sa partie sud, qui demeure un espace géopolitique inexploité, peut servir de nouvelle plateforme de dialogue entre le Nord et le Sud. Le Royaume du Maroc, stratégiquement placé dans cet espace, peut exploiter sa façade atlantique afin d’insuffler une nouvelle dynamique à sa relation avec l’Amérique latine pour le renforcement des échanges politiques et économiques dans le sud global. Les relations entre le Maroc et les pays de l’Amérique latine c ...

This paper aims to investigate the impact of an inflation targeting framework adoption by the central bank, on the reduction of public debt ratios in emerging countries, through the potential discipline-enhancing effect of inflation targeting on the conduct of fiscal policy in general. The impact evaluation method used is the Propensity Score Matching (PSM), which allows the evaluation of the treatment effect of inflation targeting on fiscal discipline, in terms of public debt reduc ...

In April 2007, on my first day as vice president at the Inter-American Development Bank (IDB) in Washington D.C., I received an informal visit from Thomas E. Lovejoy, a celebrated American environmental scientist who died last year. He spoke to me of a “turning point” in deforestation in the Amazon, beyond which the consequences would be irreversible. He was interested in knowing how the IDB could help in the fight against deforestation. Thomas and the Brazilian environmental scien ...

China’s rate of economic growth has slowed. Chinese GDP ended 2022 up 3%, but this was the lowest growth rate in the last 40 years, except for 2020, the first year of the pandemic. In addition to problems in its real-estate sector, China’s severe ‘COVID zero’ confinement policy is one of the causes. The post-‘COVID zero’ reopening of the Chinese economy has improved its growth outlook. In the International Monetary Fund’s annual report on China, published in early February 2023, 5. ...

L’objectif de ce papier est d’essayer d’examiner si l’implémentation du cadre de ciblage de l’inflation par la banque centrale, permet une réduction de la dette publique dans les pays émergents, à travers l'effet disciplinant du ciblage sur la conduite de la politique budgétaire en général. Pour ce faire, la méthode d’évaluation d’impact utilisée est l’appariement par score de propension ou Propensity Score Matching (PSM), qui permet l’évaluation de l’effet de traitement ...

This ninth edition of “Atlantic Currents” appears in an international context marked predominantly by a ten month-war between Russia and Nato members that began February 2022. The war is affecting not only the European and American member States directly and actively involved in an unprecedented manner, but more importantly the countries of the global South that have suffered collateral damage. Indeed, the nations of the world were barely out of the most painful and costly phase o ...

The pandemic has hit Latin America hard, and its economic recovery has been slower than in other regions. In addition to the legacy of higher public indebtedness, the pandemic left scars on the labor market and the human capital formation of future workers. The COVID-19 crisis has receded in Latin America but has left a significant toll. Reported deaths from the pandemic are currently low and converging to global levels. The average excess mortality during the pandemic was among t ...

The Atlantic Dialogues Emerging Leaders Alumni (ADEL) Portraits are a series of journalistic insights that delve into the stories and backgrounds of impactful young leaders of the ADEL community, now 350 alumni strong. These portraits are more than a biography as they capture the motives, success stories, career shifts, and vision behind each emerging leader’s pursuit of positive impact. From Morocco to South Africa, Germany to Canada, Brazil and the United States, these young leade ...

Last March, a proposal of dollarizing Argentina’s economy arrived at its Congress. We summarize here the potential consequences of such a route in case the bill succeeds in getting approval. First, we point out the broad implications of dollarizing an economy. Then, we set out some cases of Latin American experiences with dollarization. Finally, we address the case of Argentina. The main potential benefit of dollarization would be elimination of domestic inflation, but at a very hig ...

The pros and the cons of regional market integration are well exemplified by the experience of Uruguay, a small, open economy in MERCOSUR, which is a highly protectionist trade bloc, dominated by Argentina and Brazil. With access to such large markets, Uruguay did raise its growth rate during the first decade of MERCOSUR, the 1990s. However, market integration as implemented in MERCOSUR was also problematic in that Uruguay suffered from the high protectionism of Argentina in the for ...