Fiscal Impact of Lower Oil Prices on Latin America and the Caribbean

2017-04-14T01:45:48-04:00February 26, 2015|

By Robert Rennhack and Fabián Valencia

(Versions in Español and Português)

The plunge in world oil prices—from $105 to about $50 per barrel since mid-2014—has been a boon for oil-importing countries, while presenting challenges for oil exporters.

In general, oil importers will enjoy faster growth, lower inflation, and stronger external positions, and most will not encounter any significant fiscal pressures. Oil […]

More than 18 Million Jobs Needed!

2017-04-15T14:32:51-04:00October 31, 2010|

For the six oil-importing countries in the Middle East and North Africa region—Egypt, Jordan, Lebanon, Morocco, Syria, and Tunisia—high unemployment is a chronic problem. Averaging above 10 percent for the past two decades, unemployment rates here are among the highest in the world. And, youth unemployment is even more alarming at over 20 percent. Given the enormous economic and social costs of unemployment, the region can no longer afford the status quo. These countries need to create about 18? million full-time jobs over the next decade to provide employment for young people looking for their first job and to bring down unemployment. But, why is unemployment chronically high? And what needs to be done to fix it?
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