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Alternatives to Debt and Austerity in Latin America

28 May 2021 @ 10:00 AM - 11:30 AM -05


Alternativas frente a la Deuda y Austeridad en América Latina | Alternatives to Debt & Austerity in Latin America


  • Oscar Ugarteche, Coordinator of the Economic Observatory of Latin America (OBELA) from the Economic Research Institute (UNAM).
  • Isabel Ortiz, Director of Global Social Justice


  • How do austerity policies affect workers? Jocelio Drummond, Regional Secretary of the Public Services International (PSI) for the Americas
  • How do austerity policies affect women’s rights? Verónica Serafini, Latindadd
  • How was the IMF´s return to Latin America? Mario Valencia, Latindadd

Moderator: Patricia Miranda, Latindadd

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Latin America is going through one of the worst social and economic crises, which drags structural failures of the economic model deepened during the pandemic.

In the face of confinement decisions, developed countries have responded with fiscal stimuli and monetary emissions, and some poor countries have managed to access temporary debt service suspensions. However, middle-income countries -that is to say, almost all countries in Latin America- face difficulties in accessing the neccesary financing to address health and economic emergencies.

Concerns in the region grow around the need to alleviate the situation of millions of people living below the poverty line, closing the deepening gender gaps, applying urgent measures in the face of job losses, preventing lack of education from becoming a structurally lagging factor and also, preventing countries from continuing to depend on the extractive economy as the only form of economic growth, among others.

The financing needs to face the crisis have led countries to borrow, increasing their external and internal debt in the midst of a critical fiscal situation, as well as to implement austerity measures. The IMF has returned to the region and there are no signs of a sustainable recovery in this new lost decade for Latin America. In this seminar we seek to address responses and solutions to the situation in Latin America, in the midst of a multiple crisis. Additionally, we seek to address alternatives leading to the recovery of the region.


CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit For more information on the NGO Committee on Social Development, please visit For more information on the NGO Committee on Human Rights, please email the co-chairs at or