Over the past decade China has become a key partner for Latin America and the Caribbean with bilateral trade increasing 22 fold between 2000 and 2012, albeit with a strong deficit for Latin American countries, according to Alicia Bárcena, Executive Secretary of the UN Economic Commission for Latin America and the Caribbean.
Uruguay together with the Economic Commission for Latin America and the Caribbean (Eclac) and the UN Population Fund (UNFPA) are holding a four day conference in Montevideo as of Monday under the heading of First session of the regional conference on population and development in Latam and the Caribbean.
Following on the steps of the IMF (and World Bank) which has strongly questioned Argentine official stats (mainly inflation and GDP growth), the United Nations Economic Commission for Latin America and the Caribbean, Eclac, also joined the club of disbelievers since in its last report on the regional economy appealed to other stats’ sources.
Latinamerica and the Caribbean are poised to grow 3% this year, according to the July Economic Survey of Latin America and the Caribbean, which is down from the previous April estimate of 3.5%. Slower growth in the region’s two largest economies Brazil and Mexico, and more modest activity in Chile, Panama and Peru have pulled the average down.
The average regional urban unemployment rate could drop by up to 0.2 percentage points to stand between 6.4% and 6.2% in 2013, the lowest rate in recent decades, according to a new report from the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labour Organization (ILO).
Currency strength due to stimulus measures in the developed world is currently Latin America's Achilles' heel, though the region's macroeconomic management is a bright spot, the head of the United Nations' body for the region said on Monday.
Latin America and the Caribbean received last year a record 173.361 billion dollars in foreign direct investment (FDI) (6.7% more than in 2011), despite an international context characterized by shrinking FDI flows worldwide, according to the United Nations Economic Commission for Latin America and the Caribbean (ECLAC).
A weak global economy, mainly due to the difficulties faced by Europe, United States and China has affected growth in Latin America and the Caribbean. In 2012 the original growth estimate will fall from 3.7% to 3.2%, according to the latest estimate from the UN Economic Commission for Latinamerica and the Caribbean.
Foreign trade in Latin America and the Caribbean will suffer from the economic slowdown that started in the second half of 2011. The value of regional exports will increase by 4% in 2012, whereas imports will grow 3% - according to estimates presented in the new Economic Commission for Latin America study released on Thursday.
Premier of China, Wen Jiabao, will visit the headquarters of the UN Economic Commission for Latin America and the Caribbean (ECLAC) in Santiago, Chile, on Tuesday 26 June to deliver a lecture.