Articles by Pablo Pardo

About the Author

Pablo Pardo
Pablo Pardo is Washington DC correspondent of El Mundo. Journalist especialized in International Economics and Politics.
mauricio claver

“There Are Companies That Have Left Latin America Because Of Currency Risk. We Offer Hedging To Eliminate It”

Pablo Pardo (Washington) | Since October 2020, the largest development agency in the Americas, the Inter-American Development Bank (IDB) has had at its helm a person who grew up in Madrid, Mauricio Claver-Carone, the first American to head the institution. He was director for the Americas at the National Security Council during Donald Trump’s presidency. And Claver-Carone has set himself the goal of making Latin America accelerate its growth, making…


Bitcoin vs Gold min 930x620 1

When Bitcoin Capitalises As Much As All The Gold In The World

Pablo Pardo (Washington) | The United States, like practically all countries in the world, is in a situation of uncertainty. Jobs are being created, but less than expected in a recovery that will lead this year and next to the highest GDP growth in three and a half decades. And jobs are being created despite the fact that companies say they are unable to find workers. Because, despite the withdrawal…


JoeBiden

‘Delta’ Spelled With A ‘W’

Pablo Pardo (Washington) | In September, the slowdown has, unexpectedly, arrived in the US. The main culprit is the Delta variant of the coronavirus, which is once again claiming 1,500 lives daily and threatens to cause a ‘W’ revival. Until just a month ago, the biggest question regarding the US economy was whether its growth would beat China’s for two years in a row. The last time US GDP growth…


Nobuhiro Kiyotaki

“Modern Monetary Theory Has A Weakness: Nominal Government Bond Rates Are Not Always Low”

Pablo Pardo (Washington) | Nobuhiro Kiyotaki, Princeton professor and BBVA Frontiers of Knowledge Award winner, says: “As public debt grows, rates tend to rise, until they are close to those of private debt, which are higher than the rate of GDP growth. The spreads on public and private debt are not immutable over time and, paradoxically, some people seem to think that this is the case, that the coupon on…



jeff sachs

“US Inequality Is A Reflection Of The Deep Racism That Built This Country”

Pablo Pardo | Jeff Sachs is the activist economist. An interview with him seems more like a conversation with a leader of a social or political movement than with one of the youngest full-time professors in the history of Harvard University. At 66 years old, he has just published in Spain his latest book, ‘The Ages of Globalization’ (Deusto). He still believes in the integration of the world economy as much as he did three and a half decades ago. However, at the slightest opportunity, he launches into anti-Trump meanders that do not always have to do with the question he has been asked.


How a government shutdown affects the economy

The US Earmarks €3.3 Tr To Fight The Effects Of The Pandemic; The EU Has Not Yet Disbursed Even €750 Bn

Pablo Pardo (Washington) | What if it turns out that we are going to come out of the Covid-19 recession too quickly? In Europe that sounds like a joke, of course, thanks to the disaster organized by the European Commission with the purchase of the vaccines, and the insistence of the northern EU countries that no funds should be committed for the revival of the lazy southern ones. But that is not the case in the US, where the vaccine campaign is going much faster, and the public authorities have not been shy about spending to stimulate the economy.


Washington silicon valley

The Coming War Between Washington And Silicon Valley

Pablo Pardo (Washington) | According to the so-called ‘Bork Doctrine’, a company that has a dominant position in a market can benefit consumers. The Democratic Party has always been more reluctant to accept that thesis than the Republican Party. In recent years, that opposition has become tougher. So one would think that both for purely political reasons – to please the left wing of the Democratic Party – and for ideological principles – that opposition to the control of big business – Biden will not pass up the opportunity to trim the quasi-monopolies of the Internet giants.


Fed Powell

USA, Banana Republic: Its Economy In The Hands Of The Fed

Pablo Pardo (Washington) | The catastrophe following the elections, with president Donald Trump refusing to admit electoral defeat and practically the entire Republican Party supporting him, has confirmed the US is almost a developing country but without malaria. With the US in a political situation of underdevelopment, the management of the economy until Trump leaves the White House, passes to the Federal Reserve. In principle, this is on the outside of political disputes.


US education inequality

Education And Inequality In The US: A Democrat Victory Will Heat Up The Debate

Pablo Pardo | The total amount of tthe student debt in the US is over $1 Tr ( €850 Bn ).But since the beginning of the pandemic, the US has spent more than $2.2 Tr (almost 1.9 Bn euros) to avoid the economy crashing. For the Republican Party, these liabilities are not a problem in which the State should intervene. Furthermore, the cultural gap goes hand in hand with the economic disparity in the US and the pandemic has exacerbated these divisions. The gap between Republicans and Democrats and, at the same time, between Democrats, over the question of student debt illustrates how the debate on economic policy can be in 2021.