PODCAST: Pandemic puts gains in LatAm over last 20 years at risk, says IDB VP

PODCAST: Pandemic puts gains in LatAm over last 20 years at risk, says IDB VP

Capital Markets Corporate & Sovereign Strategy Economy & Policy Project & Infrastructure Finance Latin America Coronavirus LatinFinance Connect Central America

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The rapid reaction of international financial institutions to offer financial assistance to aid in the battle against the COVID-19 pandemic may have helped keep economies in the region from collapse, but it is acknowledged that more needs to be spent for a problem that is still not under control in the region.

Latin America saw the arrival of the coronavirus later than the rest of the world, however when it comes to infection rates it now has four nations within the top ten, and the counts keep rising, according to data provided by the Johns Hopkins Coronavirus Resource Center.

The Inter-American Development Bank’s average annual funding for the Latin America and Caribbean region has doubled this year to around $15 billion and will likely remain sustained at that elevated level for the next year or two, says the bank’s Vice President for Countries, Alexandre Meira da Rosa.

“All the gains that the region have done in the last 15, 20 years were put at risk, and are at risk at this point,” he said in the latest edition of the LatinFinance Connect podcast recorded late last week.

While the funding might remain sustained, where that money is being put work is almost certain to change. Over an extended period of time the view is there will be a shift from infrastructure to social and health initiatives. This however, comes at a time when the region was looking toward building up key sectors of its economies. What becomes of those initiatives now?

Latin America saw the arrival of the coronavirus later than the rest of the world, however when it comes to infection rates it now has four nations within the top ten, and the counts keep rising, according to data provided by the Johns Hopkins Coronavirus Resource Center.

Listen in below to the full interview to find out, but here are some short-cuts. Hear about the reaction of the IFIs at the 2 minute mark; the sustainability of funding and the economic perspective at the 4:15 mark; how to see the silver lining in the opportunity to build back better and not abandon economic reforms around the 9:05 mark; the risk to gains made over the past 20 years at the 16:15 mark; where infrastructure spending will likely be and how it will shift at the 19:40 mark; how the pandemic is making policymaking and policymakers more accessible at the 27:00 mark.

Listen through to the end of hear about the current plans for the IDB’s annual meeting in 2021.

Please tell us what you think about the new podcast series and send us suggestions on who you would like to hear from. Drop us a line at editorial@latinfinance.com

Thanks and enjoy.

djbases · Alexandre Meira da Rosa - VP For Countries - Inter-American Development Bank - July 23, 2020