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Government at a Glance

Latin America and the Caribbean 2014: Towards Innovative Public Financial Management

image of Government at a Glance

Latin American and Caribbean Government at a Glance offers a dashboard of more than 30 indicators to help decision makers and citizens analyze and benchmark government performance both within the LAC region and compared to the OECD countries. The publication focuses in four broad areas: budgeting practices; public sector pay and employment; public procurement and public finances. Furthermore, the policy chapter deepens in the budgetary and fiscal innovations which have taken place for the LAC region in the past years.

Despite the fact that the LAC region has not been so badly affected by the recent Global and Financial crisis, the Latin American an Carribbean Government at a Glance argues that governments need to be more inclusive, transparent, receptive and efficient. For that, they need to improve among other budgetary, employment and procurement practices, as well as increase the transparency levels.

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Fiscal and budget innovations and the commodities boom in LAC countries: A winning decade?

Latin America and the Caribbean (LAC) countries have struggled for more than three decades with economic volatility, financial crises, and difficulties to maintain credible fiscal policy frameworks. Throughout the 1980s, a period often referred to as the lost decade, many countries in the region defaulted on their high debt due to a host of issues, including rising interest rates, skyrocketing oil prices and a deterioration of exchange rates. As a result, inflation increased, income dropped and unemployment soared, generating problems that affected the region for many years.

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