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Covid and after: the battle for fiscal space in LAC
The battle for fiscal space in LAC
There are various definitions of ‘fiscal space’, all broadly based on the idea of having some kind of financial reserve or money held ‘in the back pocket’ which would allow a government to deal with unexpected spending needs.... Read More
The Covid-19 pandemic was a major shock to the LAC economies.... Read More
LAC has plentiful experience of what can be called vicious fiscal cycles.... Read More
So far, the discussion has made little mention of politics, a critical omission.... Read More
Some recent examples may cast further light on the type of political tensions involved.... Read More
Colombia’s right-wing government also got itself into political difficulties over fiscal adjustment.... Read More
April-September, which was subsequently halved until the end of the year.... Read More
Not surprisingly, perhaps, the crippling impact of the Covid-19 pandemic has led many to question traditional approaches to fiscal management.... Read More
This paper has argued that in the post-pandemic era LAC countries will in principle be able to recover and rebuild lost fiscal space so that they will eventually reduce the public debt burden and get themselves back on a pathway of sustainable economic growth.... Read More
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- What is fiscal space and who wants it?
- Record fiscal deficits in 2020
- The struggle for fiscal adjustment
- The wild card: Politics
- Argentina postpones the IMF reckoning
- Street protests in Colombia
- Swings and roundabouts: Mexico and Brazil
- Towards a new consensus on fiscal management?
- Conclusion: politics holds the key