South America

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 ...

The contrast between Argentina’s rich natural resource endowment and its poor economic performance has been the focus of much socio-political and economic analysis. When it created MERCOSUR with its immediate neighbors, Brazil, Uruguay, and Paraguay in 1991, it had access to a trading bloc with a combined GDP of US$ 419 trillion (2019), making it the 5th largest economy in the world. Joining the MERCOSUR was a break from its protectionist past. But it did not last. Argentina greatl ...

On January 28, both Argentina’s government and the International Monetary Fund staff made announcements about an understanding on new support program. Meanwhile, in addition to the payment of an amortization due on January 28, another payment is also expected in the first week of February. Both payments relate to the previous package, approved in 2018 and substantially disbursed thereafter. Non-payment could sour relations at a critical moment for a new program to be approved by the ...

Après une longue période de prix atones, le café a vu ses cours se raffermir au cours de l’année 2020 et du premier trimestre 2021, avant de flamber durant l’été et l’automne. Il renouait alors avec des plus hauts niveaux depuis 2011, date de la fin du dernier « super-cycle des matières premières (2002-2011). Tandis que la demande progresse structurellement, l’offre s’est repliée, pénalisée par une conjonction de facteurs climatiques, géopolitiques et, bien évidemment, sanitaires en ...

This paper analyses the regional economic differences in the impact of lockdown measures to prevent the spread of COVID-19 ordered by Colombia’s national gov­ernment. Using an input-output model, we estimate regional economic losses by extracting a group of formal and informal workers from different sectors of the economy. Results show regional differences in the impact of lockdown measures on their labour markets, local economies, and productive sectors. We also find that periphera ...

As COVID-19-related health indicators improve after restrictive measures were set in place in different parts of the world, governments are expected to guide how to ease interventions while minimizing the risk of resurgent outbreaks. Whereas epidemiologists track the progress of the disease using daily indicators to understand the pandemic better, economic activity indicators are usually available at a lower frequency and with considerable time lags. We propose and implement a timel ...

In her very energetic way and a waterfall of words, Edna Valencia Murillo explains how the Atlantic Dialogues 2019 have been a life changer. At the time of her participation in the Atlantic Dialogues Emerging Leaders program in 2019, she was a Colombian news anchor for France 24 in Spanish, working from Bogota, a job she left in September 2021 to follow a more independent route. During the pandemic, she has written a book, built her platform “to connect black people in Colombia with ...

A slowdown in China and winding down of U.S. stimulus threaten a much-needed regional rebound. First appeared at Americas Quarterly The last year has seen some good news for Latin American economies. The region’s recovery has been stronger than expected, and growth forecasts by the World Bank and IMF have improved since six months ago. Vaccination campaigns and fiscal support have sparked an economic rebound since the second half of last year, despite an apparent loss of momentum ...