The IDB has researchers in many departments producing working papers on economic and social topics. Many of these documents constitute background research for the IDB’s flagship publication "Development in the Americas" prepared by the Research Department. In addition, the IDB finances and mentors studies conducted by other institutions in order to build knowledge and research capacity. All IDB working papers are peer reviewed and meet high editorial standards.
2023 LATIN AMERICAN AND CARIBBEAN MACROECONOMIC REPORT: Preparing the Macroeconomic Terrain for Renewed Growth
- Latin America and the Caribbean needs to implement macroeconomic policies to lower inflation and mitigate the impacts of an adverse global context in 2023.
- A baseline scenario sees the region growing by 1% in 2023 after better-than-expected growth of 3.9% in 2022. Growth is predicted to reach 1.9% in 2024.
- Countries are facing a triple social, fiscal and growth challenge that is limiting their development and that of their population. They have the tools to address this challenge if they make the appropriate policy choices.
Edited by Andrew Powell and Oscar Mauricio Valencia
- Total debt in Latin America and the Caribbean has grown to US$5.8 trillion, or 117 percent of GDP. Public debt soared during the pandemic, and corporates issued substantial amounts to survive the crisis.
- While taking on debt helped the region weather the pandemic, it is now weighing down its economy. If countries want to grow and reduce the possibility of a deeper debt crisis, they need to bring down debt to prudent levels.
- To achieve prudent debt levels, policymakers can focus on better fiscal institutions, implementing fiscal consolidation, improving debt management, and providing well-targeted assistance to promising private firms.
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