Latin America will need 2 trillion dollars investment in the energy sector during the coming twenty years to sustain its development growth, according to a conference on Energy: a vision of the challenges and opportunities in Latin-American and the Caribbean sponsored by Latam Development Bank, CAF.
The ‘State is back’ in Latinamerica and will help establish social policies, diminish inequality and increase inclusion said the regional director of the UN Development Program, Herlado Muñoz during a seminar in Mexico City on “Youth participation and democratic governance in Latin America and the Caribbean”.
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.
The current regional integration of Latin America is too slow in light of the challenges the region faces, a United Nations economic agency official said on Wednesday, calling for greater efforts to rev up the process.
The UN Economic Commission for Latin America and the Caribbean, Eclac, raised its 2011 growth estimate for the region to between 4.5% and 5%, said Executive Secretary Alicia Bárcena.
Mercosur full member countries with the exception of Brazil will have the best growth performance in the region this year, according to the annual report from the UN Economic Commission for Latin America and the Caribbean, Cepal which was announced this week in Santiago de Chile.