The scars from the COVID-19 crisis will take years to fade if countries in Latin America and the Caribbean don't take immediate steps to boost a lackluster recovery from the pandemic, with poverty now at its highest level in decades, according to a new World Bank report, “Recovering Growth, Rebuilding Dynamic Post-Covid Economies Amid Fiscal Constraints”.
Although regional growth is projected to recover at 6.3 percent in 2021, with vaccination accelerating and COVID-19 deaths falling, for most countries it will fail to completely reverse the 6.7 percent contraction last year. Furthermore, growth forecasts for the next two years sink to below 3 percent, returning to the low growth rates of the 2010s and fueling fears of another Lost Decade of development.
At this seminar, William Maloney, Chief Economist for Latin America and the Caribbean Region, World Bank, presented the main findings of the report.
Date/Time:
8am-9am, Thursday November 4, 2021 (Japan Standard Time)
Speaker
Chief Economist, Latin America and the Caribbean Region, World Bank
William F. Maloney is Chief Economist for the Latin America and Caribbean (LAC) region. PMr. Maloney, a U.S. national, joined the Bank in 1998 as Senior Economist for the Latin America and Caribbean Region. He held various positions including Lead Economist in the Office of the Chief Economist for Latin America, Lead Economist in the Development Economics Research Group, Chief Economist for Trade and Competitiveness and Global Lead on Innovation and Productivity. He was most recently Chief Economist for Equitable Growth, Finance and Institutions (EFI) Vice Presidency. From 2011 to 2014 he was Visiting Professor at the University of the Andes and worked closely with the Colombian government on innovation and firm upgrading issues.
Mr. Maloney received his PhD in Economics from the University of California Berkeley (1990), his BA from Harvard University (1981), and studied at the University of the Andes in Bogota, Colombia (1982-83). His research activities and publications have focused on issues related to international trade and finance, developing country labor markets, and innovation and growth, including several flagship publications about Latin America and the Caribbean.
Presentation material:
Recovering Growth: Rebuilding Dynamic Post-Covid Economies Amid Fiscal Constraints（PDF）
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