Argentine Foreign Affairs Minister Felipe Sola on Monday called on Latin American and Caribbean countries to embrace “solidarity multilateralism” to overcome the impact of the COVID-19 pandemic.
Countries of Latin America and the Caribbean must continue to ratchet up stimulus to beat back the devastating economic impacts of the coronavirus pandemic, the UN agency ECLAC said in a report issued this week.
Brussels, 09 April 2018 - Three out of four Latin Americans today show little or no confidence in their national governments. Around 80% think corruption is widespread. These levels are both up from 55% and 67% respectively in 2010. Mistrust is rising as in most regions of the world and risks deepening the disconnect between people and public institutions, harming social cohesion and weakening the social contract. Reconnecting public institutions with citizens by better responding to their demands is thus critical for strengthening growth and sustainable development in Latin America and the Caribbean (LAC) and for the well-being of the region’s citizens, according to the Latin American Economic Outlook 2018, Rethinking Institutions for Development. The region needs more transparent, capable, credible and innovative institutions if it wants to put itself on a higher and more inclusive development trajectory.
The non encouraging economic outlook for the current year will likely prompt a mild increase in the regional unemployment rate to 6.2% from the 6.0% registered in 2014, according to estimates released by the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labor Organization (ILO).
The economies of Latin America and the Caribbean will expand by 3.2% in 2014, which is higher than the 2.6% for 2013, according to the latest report from the UN Economic Commission for Latin America and the Caribbean, launched on Wednesday in Santiago, Chile.
Foreign direct investment (FDI) to Latin America displayed moderate growth in the first half of this year, compared with the 2012 similar period, according to the Economic Commission for Latin America and the Caribbean (ECLAC). The 13 countries of the region that provided data received 102.951 billion dollars, which was 6% higher than the first six months of the previous year.
One of the main features emerging with the current international economic situation is mega-regional negotiations linking the main world production networks: Europe, North America and Asia and sometimes skirting WTO, according to the latest report on the Latinamerican and Caribbean economy from Eclac (UN Economic commission for Latam and the Caribbean).
The foreign trade performance of Latin America and the Caribbean reflects the weak global economy. Regional export values are expected to grow by just 1.5% in 2013 (3% in volumes and -1.5% in prices) - which is similar to the 1.4% growth observed in 2012.
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.
Latin American and Caribbean countries will grow on average 3.5% this year supported by a strong domestic demand and the improved performance of Argentina and Brazil compared with 2012, according to the latest “Updated economic review of Latin America and the Caribbean 2012’ from the UN Economic Commission for Latinamerica and the Caribbean, ECLAC.