Ex-Colombia finance minister warns of hard years for EM amid financing squeeze

Mauricio Cardenas Santamaria, Finance Minister, Colombia, Government, LatAm
By Oliver West
25 Mar 2020

Mauricio Cárdenas, Colombia’s finance minister in 2012-18, has told GlobalCapital that emerging market nations would struggle to raise the financing required to fund measures to treat the Covid-19 pandemic and consequent economic slump. “Difficult years are coming” for EM, warned the former official.

“All countries are going to require fiscal stimulus, and though Colombia is one of the better prepared emerging market nations, all of the emerging markets are in a bad position compared to advanced economies,” said Cárdenas. “We are talking fiscal stimulus on a scale of percentage points of ...

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