Fiscal policy in Latin America: Lessons and legacies of the global financial crisis – technical appendix – Fiscal policy in Latin America: Lessons and legacies of the global financial crisis Fiscal institutions in Latin America: Have they worked?published by IMF. “Latin America’s countercyclical response to the 2008-09 global financial crisis (GFC) was the right medicine at the time, but resulted in a significant fiscal stimulus that it has yet to be fully withdrawn. Does this mean that the fiscal institutions established in the region before the crisis were not the Holy Grail to enshrine discipline?…”
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