Crisis Update

This initiative is a series of informative documents about the efects of global crisis, in its several dimensions, on Latin America and the Caribbean region.

Farewell to 2009: Impacts of the global crisis in Latina America and the Caribbean

The economic crisis that began with the financial meltdown in 2007 has taken a toll on economies worldwide, its effects acute on developing regions. In Latin America and the Caribbean (LAC) the impact of the crisis has been significant, even though the LAC economies have coped better, with the exception of Mexico, than countries in other developing regions.

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Crisis Update No.6 - A Gloomier Picture: An Update of Growth Forecasts for Latin America

As the global economic crisis deepens, growth forecasts for Latin America and the Caribbean in 2009 are increasingly negative. Table 1 show these “consensus forecasts” published by Consensus Economics (CE) for selected countries, as well as projections from other sources.

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Crisis Update No.5 - The Impact of the Crisis on Vulnerable Populations: What do We Know?

The entire world is feeling the strain of the economic downturn. Even when developed countries are the main source of the elements explaining the contraction, it is developing countries, and in particular their vulnerable populations, that are likely to endure more severe consequences in the short- and long-term.

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Crisis Update No.4 - The Decline of Remittances.

A decline in remittance flows has often been mentioned as one of the main transmission channels through which the financial crisis, which originated in developed economies, would be conveyed to emerging markets, and especially to Latin American and Caribbean (LAC) countries.

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Crisis Update No.3 - From Bad to Worse: Revised Growth Forecasts for Latin America and the Caribbean.

Growth forecasts for LAC have been significantly revised downwardly. Despite the announcement of multi‐billion dollars stimulus packages in the region and specific measures to be better prepared to face the global crisis, growth projections show a pessimistic scenario.

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Crisis Update No.2 - The Global Financial Crisis: Social Implications for Latin America and the Caribbean.

After six years of GDP growth we are almost sure that in 2009, in the LAC region, this indicator will decline for most countries and also very likely LAC average. Forecasts go from (Barclays) 0.4% of growth in 2009 to ECLAC’s 1.9% –JP Morgan estimates 0.9% and the IMF 1.1%.

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Crisis Update No.1 - Growth forecasts. Latin America and the Caribbean.

As has been widely discussed, what started out as a crisis in the American housing market in mid-2007 turned into a full-blown global financial and economic crisis.

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