Tragedy Knocking at Latin America’s Door: Este Pais

The health and economic shocks of Covid-19 could surpass any challenge of the previous century for Latin America and the Caribbean. Mixed responses – some swift and efficient with a focus on saving lives; others incompetent and political – could devastate the region. With global economic interdependence or not, governments must contend with errors made by other countries. Too many leaders around the world initially prioritized short-term economic interests and their own political destinies, neglecting severe health inequities among the poor and disadvantaged while allowing the disease to spread, explains Ernesto Zedillo Ponce de León, director of the Yale Center for the Study of Globalization and former president of Mexico. The pandemic exposes many weaknesses, especially with health care systems and prevention capacity. Zedillo urges governments to ward off protracted depression, focusing on job, income and social security protections as well as aid for businesses, ensuring liquidity to prevent bankruptcies and banking crises. Such support must be transparent and free of discrimination. Leaders can prepare voters for visionary policies: preparing for an inevitable energy transition by taxing carbon emissions while oil prices are low and overhauling tax systems to eliminate loopholes, increasing capacity for investment in public goods. Latin America should speak out for international cooperation and economic coordination. Zedillo eloquently concludes with how governments must rely on democracy and trust to emerge from this pandemic. “To earn that trust, instead of propagating unfounded illusions, our governments must grant people the truth, irrespective of how overwhelming this is. Trust is not created with demagogic posturing; it stems from sensible policies and actions guided by a strong comprehension of responsibility and commitment, not by the desire for personal popularity.” – YaleGlobal