The Economic Consequences of Covid-19 in Latin America

The Covid19 pandemic is a crisis of an unprecedented scale and nature. The measures imposed to mitigate the spread of COVID-19 are already beginning to tool on economic system across most of the economic. The impact is likely to be particularly severe for the developing economies. This impact, however, are likely to vary according to the capacity and willingness of governments to provide fiscal stimulus. As a matter of fact, capital outflows to hegemonic countries (relaunching "flight to quality" episodes), along with the fall of exports (in quantities) and terms of trade (prices), has put the Balance of Payments of these economies in a precarious situation. Although the FED has lowered the interest rates and recreated the swap line for a number of foreign Central Banks (thereby, acting as a push factor of capital towards the peripheral countries), it, as has been evidence from the recent episodes of exchange rates devaluations affecting the developing world, is not expected to be enough.

In order to analyze these different aspects of the likely economic impact of the measures undertaken to mitigate the spread of the pandemic, the Economic Development WG is launching a webinar series on economic consequences of Covid19 in developing and emerging economies. The first webinar meeting, co-organized with the Latin America WG, will engage with issues on the economic impact of the pandemic outbreak in Latin America. In this meeting, we will host Professor Matias Vernengo. He is currently affiliated with Bucknell University. In the past, he has served as an associate professor at the University of Utah, as a senior research manager at the Central Bank of Argentina, and as an external consultant for the ECLAC, ILO, UNDP and UNCTAD. He has also taught at the Federal University of Rio de Janeiro, Kalamazoo College and at the Graduate Faculty of the New School for Social Research. He is the co-editor of the Review of Keynesian Economics (ROKE), the co-editor-in-chief of the New Palgrave Dictionary of Economics, and the author of the blog “Naked Keynesianism”.

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Topic: The Economic Consequences of Covid-19 in Latin America
Time: May 04, 2020, 19:00 (Timezone: Europe/London)
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