Most people know Argentina as the land of tango, Malbec, and some of the greatest soccer players of all times. But Argentina is also famous for being home to some of the most diverse and extreme landscapes of the world—from subtropical rainforests and Iguazu Falls in the north to the glaciers of Perito Moreno in the south, and from the lowest site in South America (Laguna del Carbón) to the highest elevation in the Americas (Aconcagua mountain).
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Ulric Eriksson von Allmen is an Assistant Director in the IMF’s Monetary and Capital Markets Department and head of its macrofinancial surveillance and review division. He led the IMF’s work on the 2018 Financial Sector Assessment Program (FSAP) for Indonesia and the 2019 FSAP for Singapore. Before joining MCM five years ago, he was a division chief in IMF’s Western Hemisphere Department where he led the work on Chile, Argentina, and Uruguay, and before that he was a division chief in the Strategy, Policy, and Review Department.
This blog is the first in a series providing regional analysis on the effects of the coronavirus.
COVID-19 is spreading very quickly. This is no longer a regional issue—it is a challenge calling for a global response. Countries in Latin America and the Caribbean have been hit later than other regions from the pandemic and therefore have a chance to flatten the curve of contagion.
Economic activity in Latin America and the Caribbean stagnated in 2019, continuing with the weak growth momentum of the previous five years and adding more urgency and new challenges to reignite growth. Indeed, real GDP per capita in the region has declined by 0.6 percent per year on average during 2014–2019—a sharp contrast from the commodity boom’s average increase of two percent per year during 2000–2013. (more…)
In the October World Economic Outlook, we described the global economy as in a synchronized slowdown, with escalating downside risks that could further derail growth. Since then, some risks have partially receded with the announcement of a US-China Phase I trade deal and lower likelihood of a no-deal Brexit. (more…)
Rodolfo Maino is a Senior Economist at the African Department of the IMF and also worked at its Monetary and Capital Markets Department. Prior to joining the IMF, Rodolfo worked in the private sector (Phillip Morris Co.), the Central Bank of Argentina and at different universities, teaching econometrics. Mr. Maino holds a Master in Mathematical Statistics and a PhD in Economics from the University of Utah.
Paolo Dudine is senior economist in the IMF’s Fiscal Affairs Department, where he worked on the Fiscal Monitor and provided technical assistance on fiscal rules. His country work experience includes low-income and emerging countries such as Angola, Argentina, Bulgaria, Colombia, Honduras, Guinea. Over the years he has also delivered training to country officials, including through on-line courses. He holds a PhD from New York University.