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What will change in Latin America?

IPDAL proposes ways to deal with the social and economic crisis caused by Covid-19 in the region.

During the digital conference, organized by the Institute, it was proposed the establishment of a regional pact, based on the competitiveness, productivity and resilience of States and institutions. For José Antonio García Belaunde, Director of CAF – Development Bank of Latin America in Europe and former Minister of Foreign Affairs of Peru, education and innovation are the pillars on which this collective strategy is based, which aims to respond to the profound impact of pandemic in Latin American countries.

The former Minister of Foreign Affairs of Argentina, Jorge Faurie, highlighted that the coronavirus reached the sub-continent at a particularly complex time and that countries were unable to provide a global and concerted response, through their multilateral organizations.

Also according to the President of IPDAL, the way out of this crisis will not be the same for all countries in the region. Paulo Neves reinforced the need for Latin America to definitively move towards an integration model that responds to regional problems with regional solutions. Considering that everything points to inevitable financial aid from international institutions, the IPDAL leader stated that, for Latin American governments, the solution could involve public investment in ports, airports, roads, which could also be a good opportunity for Portuguese companies.

The meeting, held on May 11, 2020, also included Carlos Malamud, main researcher at Real Instituto Elcano, and Andrés Rondón, special advisor to SEGIB. The speakers left an appeal for Latin American economies to carry out structural reforms in order to transform the extractive matrix of their economies, especially in a global order in which an increase in competition between China and the United States is expected. At the same time, it was explained that the hypothesis of placing debt on the markets entails several problems for Latin America, as the region’s Central Banks do not have the same capacity to reduce interest rates as more solid economies, such as the United States. of America, which, on average, would pay 7.5% less than Latin American countries.

The meeting also concluded that the post-Covid–19 scenario will be heterogeneous in Latin America, reflecting the political and economic conditions each State was in when it was hit by the disease.

You can also consult, by following the links below, information from the Ibero-American General Secretariat on the response to the pandemic:

1.- Public Policy Map

https://www.segib.org/covid-19/

2.- Iberoamerican COVID-19 Monitor:
https://datastudio.google.com/s/se0W9JJq_KE

3.- Contagion/deaths graph in the region

https://datastudio.google.com/s/uQ2woYir5ek

4.- Comparative curves in Latin America:

https://datastudio.google.com/s/lnBFewOEQu4