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Montevideo, May 29th 2023 - 12:41 UTC

Tag: United Nations Economic Commission for Latin America and the Caribbean (ECLAC)

  • Wednesday, May 17th 2023 - 10:18 UTC

    ECLAC calls for broader financing for Latin American countries

    Latin American countries are going through “complex” macroeconomic and financial conditions, ECLAC said

    The Economic Commission for Latin America and the Caribbean (ECLAC) Tuesday said it considered that the current level of indebtedness in Latin America requires a transformation of the international financial architecture to offer countries other alternatives to attain “inclusive and sustainable” development.

  • Monday, April 24th 2023 - 16:53 UTC

    ECLAC downgrades growth estimates to 1,2% this year for Latin America and the Caribbean

    In a context of growing external uncertainties and domestic restrictions, ECLAC expects the slowdown in economic growth to deepen, settling at a rate of 1.2%.

    New projections released by the United Nations Economic Commission for Latin America and the Caribbean, ECLAC, estimate all sub-regions will experience lower growth this year compared with 2022.

  • Friday, July 6th 2018 - 08:12 UTC

    FDI in Latin America falls for the third year running, says ECLAC

    Alicia Barcena called on governments to promote quality FDI that is compatible with sustainable development, to promote a change in productive structures

    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.

  • Friday, April 6th 2018 - 19:47 UTC

    Regaining citizens’ trust in public institutions is key to resuming inclusive growth and well-being in Latin America and the Caribbean

    The report notes that trust in public institutions declined and satisfaction with public services has deteriorated, eroding the social contract in the region.

    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.

  • Wednesday, November 8th 2017 - 21:02 UTC

    Latin America's exports expected to increase 10%, following four years of declining prices

    Latin America and the Caribbean participation in total global service exports in 2016 was just 3.1%, compared with 5.6% of global goods exports.

    In 2017 Latin America and the Caribbean will have left behind half a decade of prices decline of its export basket plus a weak increase in the exported volume, achieving an overall 10% growth in the value of its shipments abroad, according to new estimates released by ECLAC in Chile.

  • Friday, August 11th 2017 - 11:54 UTC

    Foreign Direct Investment in Latin America drops for second year running

    Big productivity gaps persist in the region and the new technological scenarios require new policies to harness FDI benefits, said Alicia Barcena

    The flows of Foreign Direct Investment (FDI) into Latin America and the Caribbean shrank 7.9% in 2016 compared with 2015, totaling US$167.043 billion, representing a 17% decline from the peak reached in 2011, the Economic Commission for Latin America and the Caribbean (ECLAC) revealed at its headquarters in Santiago, Chile.

  • Friday, August 4th 2017 - 11:27 UTC

    Latam and Caribbean forecasted to expand 1.1%, but South America, 0.6%

    ”Financial policy must target credit stabilization and a monetary policy that supports investment, beyond instruments such as interest rate,” Alicia Bárcena said

    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.

  • Wednesday, November 23rd 2016 - 10:59 UTC

    Partnership with Latin America and the Caribbean strategic for China

    The Presidents of Chile and China Xi Jinping and Michelle Bachelet at the ECLAC Media Summit in Santiago

    Chinese President said that his country's alliance with Latin America and Caribbean countries was of “strategic” importance as he opened the Economic Commission for Latin America and the Caribbean (ECLAC) Media Leaders Summit in Santiago.

  • Monday, October 17th 2016 - 06:53 UTC

    Mercosur founding members share same economic model and are targeting trade accords, says ECLAC

    “What is happening is that Uruguay, Paraguay, Brazil and Argentina have found an economic model which they share”, Alicia Barcena argued

    Tensions inside Mercosur can be attributed to the fact that Argentina, Brazil, Paraguay and Uruguay share a development “economic model” which distances them from Venezuela, and are prepared to advance in trade negotiations with the European Union, and even with the Pacific Alliance. Venezuela on the other hand has as its main priority putting the deteriorated economy back on the growth track, according to the UN regional economic commission ECLAC, chair Alicia Barcena.

  • Thursday, October 13th 2016 - 14:52 UTC

    Latin America and Caribbean will suffer 0.9% contraction this year but growth will reach 1.5% in 2017

    The economies of South America, which specialize in primary goods —particularly oil, minerals and foods— will post average growth of 1.1% in 2017

    The Economic Commission for Latin America and the Caribbean (ECLAC) has revised its economic growth projections for the region and now expects a 0.9% average contraction for Latin America and the Caribbean this year. Economic activity is expected to pick up in 2017 with average growth of 1.5%, according to a press release by the United Nations agency.