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Atlas of Vulnerability: The Pandemic in Latin America and the Caribbean

LATINDADD and Jubilee USA created an interactive map to highlight the range of factors that determine the response capacity of developing countries in the face of the COVID-19 pandemic.

LATINDADD and Jubilee USA created an interactive map to highlight the range of factors that determine the response capacity of developing countries in the face of the COVID-19 pandemic.

Compared to advanced economies, developing countries have characteristics that make them more vulnerable to the health and economic crisis. Therefore, developing countries will take longer to recover from the pandemic and, in a third of them, the losses of income per capita erase a decade or more of gains.

Jubilee USA and LATINDADD created the map and accompanying database as a tool to systematize and measure pandemic vulnerabilities in a holistic and multidimensional way. It covers 24 countries in the Latin America/ Caribbean region, with plans to incorporate additional developing countries in other regions.

The project deliberately chose to begin the map with a region where all countries are middle- or high-income. The results illustrate that vulnerabilities are not associated to income-per-capita or confined to one particular part of the income scale, but present in all developing countries.

Among other things, Jubilee USA and LATINDADD highlight that
their sovereign debt risk premia averaged more than 750 basis points (excluding Venezuela). This means, on average, a government paid an interest rate 7.5% higher than that paid by the US Treasury, to borrow from international markets. Whereas advanced economies benefit from the ability to issue large amounts of debt at low cost, developing countries’ access to international financial markets is very precarious.

Visit the project’s website for more findings and explore the map.

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