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Fiscal Panorama of Latin America and the Caribbean 2020

Fiscal Policy Amid the Crisis Arising from the Coronavirus Disease (COVID-19) Pandemic

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The coronavirus disease (COVID-19) pandemic has generated a health, human and economic crisis without precedent in the past century. The region has responded rapidly, adopting packages of fiscal measures of diverse magnitude and scope. In this context, fiscal policy must play a key role in mitigating the human and economic impact in the short term, while also continuing to provide the impulse for achieving sustainable and inclusive growth in a post-COVID-19 world. As well as analysing the fiscal policy challenges of the current crisis, the Fiscal Panorama of Latin America and the Caribbean, 2020 provides a broad overview of the problems of tax evasion in the region. It looks at the challenges of measuring tax evasion and the measures the countries are taking to tackle it. It also compares the functional allocation of public expenditure in the countries of the region, as a factor that has implications for the achievement of the Sustainable Development Goals.

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Fiscal policy and the challenges posed by the coronavirus disease (COVID-19) pandemic

The coronavirus disease (COVID-19) pandemic has caused the worst health, human, economic and social crisis the world has faced in the last century. The exponential infection capacity of the virus heightens the probability of saturation of health systems and increases the risk of mortality. In the absence of a cure or a vaccine for the virus, efforts to control and mitigate its spread have focused on self-isolation, quarantine and physical distancing.

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