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La CEO de AS/COA Susan Segal habla con el Director del Departamento del Hemisferio Occidental del Fondo Monetario Internacional Alejandro Werner, sobre el difícil panorama económico para Latinoamérica y el Caribe frente a la pandemia del coronavirus, las reacciones políticas de los gobiernos de la región hasta la fecha, y qué puede hacer el FMI para ayudar.
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AS/COA President and CEO Susan Segal speaks with the International Monetary Fund’s Director for the Western Hemisphere Department Alejandro Werner about the difficult economic outlook for Latin America and the Caribbean in the wake of the coronavirus pandemic, the policy response from the region’s governments so far, and what the IMF can do to help.
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"The desire...to have a new bilateral economic relationship developed this calendar year would seem to be, in diplospeak, ambitious," writes AS/COA's Eric Farnsworth in The National Interest.
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Ideas to address the coronavirus crisis during a time of fiscal scarcity.
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Experts from ECLAC, the U.S. Department of Health and Human Services, World Bank, and the World Health Organization discussed the pandemic and how countries can best mitigate its effects. ... Play Video
Speakers:
- Nelson Arboleda, Director of the Office of the Americas, Office of the Secretary at U.S. Department of Health and Human Services
- Jarbas Barbosa, Assistant Director of the Pan American Health Organization/World Health Organization
- Ines Bustillo, Director of the United Nations Economic Commission for Latin America and the Caribbean, Washington Office
- Amparo Elena Gordillo-Tobar, Senior Health Economist, The World Bank Group and Coordinator, World Bank’s COVID-19 response for Latin America and the Caribbean
- Eric Farnsworth, Vice President, Council of the Americas (moderator)
Amid the COVID-19 pandemic, experts gathered (sans audience) at the Council of the Americas offices in Washington, DC to discuss the impact of the coronavirus in Latin America and the Caribbean. PAHO/WHO’s Jarbas Barbosa noted that, although the virus has spread to 19 countries in just two weeks, the region hasn't seen widespread community transmissions yet as all cases are from travelers from abroad. Nelson Arboleda of HHS said the United States is offering bilateral technical assistance to regional health ministries and is looking at the possibility of utilizing tools like WhatsApp to share public health information and evaluating promising initiatives with the private sector to promptly share messages in Spanish and Portuguese. The World Bank's Amparo Elena Gordillo-Tobar said that about one third of the economic losses from the coronavirus will come from loss of life and workplace closures, while the remaining losses will come from economic uncertainty.
It’s too early to assess and understand the complete impact of pandemic on the world economy because we don’t know the duration of the pandemic, said Ines Bustillo of ECLAC, adding that COVID-19 is different because it’s both a supply and a demand shock. Bustillo explained that countries that have already been applying fiscal restrictions now face a dilemma with their macroeconomic policy to deal with their response to the virus, which is causing currency devaluations throughout the region.
Asked by moderator Eric Farnsworth for final recommendations for regional governments, panelists said to create partnerships, protect health workers, look for long-term sustainable solutions, “flatten the curve,” and look out for the most vulnerable.
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The impact on politics and economies could be felt for years to come, writes AQ’s editor-in-chief.
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