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In the past three months, Latin America has faced reduced external and domestic financing constraints, supported by lower interest rates driven by easing inflation in most countries. This context has enabled us to revise the region’s annual growth projection to 2.1% for 2024. However, inflation remains above target in several countries, and public debt continues to rise as a percentage of GDP, underscoring the need for greater fiscal consolidation efforts.
The 9th High-level Regional Financing Arrangements (RFAs) Dialogue was held on 23 October 2024 in Washington DC at a time when the global economic outlook is improving but remains weak amid a complex geoeconomic environment and elevated policy uncertainty. The heightened volatility observed in global financial markets over the summer rea rmed the importance of having a strong Global Financial Safety Net, including e ective collaboration between the International Monetary Fund (IMF) and RFAs, to safeguard against external risks.
Working paper in academic journal Term Spread Spillovers to Latin America and Emergence of the ‘Twin Ds’ Carlos Giraldo, Iader Giraldo, Jose E. Gomez-Gonzalez, Jorge M. Uribe. See academic journal
FLAR contributes to the well-being of Latin America and the Caribbean by promoting macroeconomic and financial stability in the region.