Dimensión ambiental de las finanzas sostenibles en América Latina: lecciones para Bolivia
Abstract
Bolivia se ve desafiado por los temas globales y por sus necesidades locales. En este documento se busca aprender de las lecciones de la región en el tránsito de los últimos 12 años de finanzas sostenibles. Para ello se revisa la base de datos del Fondo Monetario Internacional sobre bonos verdes y se obtienen las lecciones de Chile, Brasil y México, que son los mayores emisores de bonos verdes en la región. Se identifican tres grupos que agrupan las lecciones y desafíos que Bolivia puede considerar al momento de avanzar en el progreso de las finanzas sostenibles. Primero, buscar la estabilidad macroeconómica, en especial en la relación de deuda y política fiscal. Segundo, ser coherente en la formulación y cumplimiento de objetivos ambientales, y tercero, mejorar la institucionalidad tanto económica como ambiental, de manera que permita tener una regulación efectiva y creíble en el tiempo.
Bolivia is challenged by the global issues and by its local needs. This document seeks to learn from the lessons of the region in the transit of the last 12 years of sustainable finance. To do this, the International Monetary Fund's database on green bonds is reviewed and the lessons of Chile, Brazil, and Mexico, which are the largest issuers of green bonds in the region, are obtained. Three groups are identified that group the lessons and challenges that Bolivia can consider when advancing in the progress of sustainable finance. First, seek macroeconomic stability, especially in the relationship between debt and fiscal policy Second, to be coherent in the formulation and fulfillment of environmental objectives, and third, to improve both economic and environmental institutions that allow for effective and credible regulation over time. Clasificación/Classification JEL: E61, F20, F30, F64, F65
Bolivia is challenged by the global issues and by its local needs. This document seeks to learn from the lessons of the region in the transit of the last 12 years of sustainable finance. To do this, the International Monetary Fund's database on green bonds is reviewed and the lessons of Chile, Brazil, and Mexico, which are the largest issuers of green bonds in the region, are obtained. Three groups are identified that group the lessons and challenges that Bolivia can consider when advancing in the progress of sustainable finance. First, seek macroeconomic stability, especially in the relationship between debt and fiscal policy Second, to be coherent in the formulation and fulfillment of environmental objectives, and third, to improve both economic and environmental institutions that allow for effective and credible regulation over time. Clasificación/Classification JEL: E61, F20, F30, F64, F65
Description
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