This Selected Issues paper focuses on scarring effects of the pandemic on the Eastern Caribbean Currency Union's (ECCU). Assessing the extent of the scarring effects is essential for the conduct of future economic policy in the ECCU. A better understanding of the factors affecting the scarring...

Colombia's economy rebounded strongly in 2021 with 10.6 percent growth led by pent-up domestic demand, notably private consumption. Around 66 percent of the population is fully vaccinated against Covid-19 as of end-February and the economy continues to reopen more fully. While GDP has already...

An economic recovery is underway in Latin America and the Caribbean (LAC) but the pandemic still casts shadows on much of the region. The recovery was robust in the first quarter of 2021 but lost momentum in some countries in the second quarter, reflecting the rebound in COVID-19 cases. Real GDP...

This 2014 Article IV Consultation highlights that Brazil’s growth has decelerated in recent years. The boost from decade-old reforms, expanding labor income, and favorable external conditions, which enabled consumption and credit-led growth and underpinned sustained poverty reduction, has lost...

This Selected Issues paper examines infrastructure investment in Brazil. Brazil has inferior overall infrastructure quality relative to almost all its export competitors. Brazil’s infrastructure endowment ranks low by international standards, and its low quality affects productivity, market...

The economic outlook for Latin America and the Caribbean remains very challenging. Regional growth is projected to decline for a fifth consecutive year in 2015, dipping below 1 percent. Weakness is concentrated among South America's commodity exporters, where falling global commodity prices have...

Following the completion of a 27-month Extended Fund Facility (EFF) arrangement in December 2022, political uncertainty, a security crisis, and exogenous shocks to oil revenue and interest rates led to a sharp macroeconomic and fiscal deterioration. The authorities implemented swift and bold...