Latin America “Needs Fiscal Stimulus Today,” Mauricio Cárdenas Says
Latin America “Needs Fiscal Stimulus Today,” Mauricio Cárdenas Says
Reforms are still needed, but during the coronavirus crisis additional health expenditures are necessary, says Colombia’s former finance minister.
Already facing sluggish economic growth, the spread of the coronavirus means that Latin America must now confront the additional challenge of pouring resources into its healthcare systems. Given the new reality, Maurício Cárdenas, Colombia's finance minister from 2012 to 2018 and a longtime specialist in fiscal policy, says now is the time for stimulus.
“Greater fiscal space is needed to accommodate additional health expenditures to contain the spread of Covid-19,” he told AQ.
But those measures "need to be complemented with a reform agenda” to guarantee regional...
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