Despite an international context characterized by stronger growth in the global economy, abundant international liquidity, high corporate returns and optimism in financial markets, the flows of Foreign Direct Investment (FDI) in Latin America and the Caribbean – on average, and with great heterogeneity within the region – fell for the third year in a row in 2017 to total US$ 161.673 billion dollars, down 3.6% from the previous year and 20% below the level reached in 2011.
Latin America and Caribbean countries will grow 1.1% on average in 2017 after two consecutive years of contraction, thanks to an international context that shows improved growth expectations despite geopolitical risks, and better prices for the commodities that the region exports, according to a new annual report that ECLAC presented on Thursday in Santiago, Chile.
The value of Latin America’s exports will continue to decline through 2015 by 14%, with Argentina faring slightly worse with a reduction of 17%, says the UN Economic Commission for Latin America and the Caribbean (ECLAC) report, which also indicated that the value of imports to Argentina are set to fall by a smaller 10%.
Latin America and the Caribbean will experience stronger economic growth, despite ongoing uncertainties at international level (particularly difficulties faced by Europe, the United States and China), according to new estimates released Tuesday in Santiago de Chile, by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC).
According to the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labour Organization (ILO), labour markets in Latin America and the Caribbean were fairly resilient to the slowdown in the regional economy in the first half of 2012, which bodes well for a positive outcome in this year's employment and unemployment indicators.
China has offered to set up a 10 billion dollars credit line for Latin American countries to support infrastructure projects in the region. The proposal was made by China's Premier Wen Jiabao as he wrapped up his visit to the region with a conference at the UN Economic Commission for Latin America and Caribbean, ECLAC, main offices in Santiago de Chile.
The potential of India for Latinamerican exports and investment opportunities was underscored during the presentation of a report “India and Latin America and the Caribbean, opportunities and challenges in trade and investment relations” sponsored by the UN Economic Commission for Latin America and the Caribbean, ECLAC.
The Executive Secretary from the UN Economic Commission for Latinamerica and the Caribbean, ECLAC, Alicia Barcena said that the European crisis is beginning to be felt but nevertheless growth in the region will continue this year and in the coming twelve months at levels above 3.5%.
European Union and Latin American leaders called for a quicker pace in concluding the EU/Mercosur cooperation and trade negotiations. The statement took place during the meeting in Brussels of the Euro-Latinamerica Parliamentary assembly.
European and Latinamerican leaders agreed in Brussels that the two continents should continue to strengthen links in spite of the serious financial and economic situation facing the European Union.