ABSTRACT

COVID-19 Attack on Latin America: Proposals for an Effective Response   [open pdf - 186KB]

From the Executive Summary: "[1] Latin America needs to implement an effective policy response on the public health front and on income transfers. This will require a massive provision of liquidity. [2] The COVID-19 [coronavirus disease 2019] pandemic will require, on average, the equivalent to 10% of the region's GDP [gross domestic product], including spending measures such as income transfers, credit provision, government guarantees, and tax reductions. [3] Governments in the region should share the burden of the effort with the private sector and strive to be austere with respect to non-essential expenditures. [4 ] Subject to specific conditionality, the IMF [International Monetary Fund] should make available to the region resources in the range of USD 200-300 billion to finance a portion of the required response."

Report Number:
Latin American Committee on Macroeconomic and Financial Issues Statement No. 43
Publisher:
Date:
2020-07
Series:
Copyright:
Center for Global Development. Posted here with permission. Document is under a Creative Commons license and requires proper attribution and noncommercial use to be shared: [https://creativecommons.org/licenses/by-nc/4.0/]
Retrieved From:
Center for Global Development: https://www.cgdev.org/
Format:
pdf
Media Type:
application/pdf
URL:
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