Former President of the Dominican Republic Leonel Fernandez foresees important electoral changes in Latin America from now to 2024, influenced by global economic trends.
“And, obviously, if the trend is down, what he is alluding to is that the one who governs loses the elections. That is the constancy that we are verifying”, he concluded in the VI Santo Domingo International Forum held at the Global Foundation headquarters Democracy and development (funglode).
The key to the challenges?
Given the complex panorama of the region, with the discontent that the population has towards the democracy and the crises that arrive and hit the signs of progress, Fernández advocated transformation, which is guided by knowledge to promote development in Latin America.
Fernández also concluded that the region of Latin America It was bad before, during, and will continue to be bad after the COVID-19 pandemic.
“Now, it does not mean that the future, inevitably, has to be apocalyptic, uncertain. We are like this at the moment, but history has always pointed out that great crises are great opportunities”, he considered.
economic challenge
In the economic sphere, Fernández affirmed that the new pandemic that will have to be faced will be the debt. Although, he pointed out that the region’s problem is not just debt, but its fiscal inability to deal with it. “The issue of tax reform becomes an unavoidable item on the agenda of Latin America in the coming years”, assured the president of Fundación Global Democracy and development (funglode)..
To this he added the steps that countries must take to avoid falling into the worst scenario: the stagflation. To decrease the inflation, cited conventional mechanisms such as interest rate increases and the demonetization process. This will translate, Fernández detailed, into less growth, which in turn will lead to an increase in unemployment.
On the innovative instruments that may arise to face the inflationthe president of the People’s Force said that these deserve to be examined.
