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What is Fiscal Policy Challenges in Latin America about?

This document analyzes fiscal policy in Latin America and compares it to OECD countries. It finds that while average fiscal deficits as a percentage of GDP have been similar, Latin American deficits are much more volatile. This volatility is problematic as it leads to procyclical fiscal policy responses that exacerbate economic downturns. Additionally, Latin America has a fragile relationship with international capital markets, with access disappearing during economic troubles when it is needed most. The pa

Author

Brenda L.

Language

EN