SANTIAGO, Chile (CMC) — The Economic Commission for Latin America and the Caribbean (ECLAC) says experts attending its 33rd regional seminar on fiscal policy have stressed the need to create a new financing model in the region.
ECLAC said the seminar, one of the main forums of reference for discussing issues related to the public finances of Latin American and Caribbean countries, concluded on Friday with three webinars featuring prominent specialists who debated matters of financing for development, tax evasion and illicit flows, as well as climate finance.
ECLAC said the final day of the seminar — which has served for 33 years as a high-level, multilateral regional space for exchanging opinions about the region’s macroeconomic and fiscal policies and challenges — began with a webinar entitled, “Financing challenges for sustaining an expansive fiscal policy and expanding fiscal space for a transformative recovery in middle-income countries”.
After this initial event, a webinar entitled “Ending tax evasion and illicit financial flows: a priority challenge for the region and the world” was held.
There, the experts analysed the policy challenges related to ending tax evasion and illicit financial flows, along with the opportunities for redirecting those resources into sustainable development.
At the conclusion, a webinar entitled “Climate finance in Latin America and the Caribbean” took place.
ECLAC said participants in this webinar addressed the options that exist for financing a recovery that would be truly transformative.
The seminar concluded with the participation of the Ambassador of Spain in Chile, Enrique Ojeda Vila, on behalf of the Spanish Agency for International Development Cooperation (AECID), which sponsored the event.
The diplomat indicated that “as a result of the current crisis, we are facing a formidable challenge for fiscal policy, both in the countries of the European Union as well as Latin America and the Caribbean”.
“The expansionary stimulus must not stop until there is a full recovery,” he reaffirmed.
