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ECLAC’s COVID-19 Observatory: An Instrument Supporting Latin America and the Caribbean in Times of Pandemic

25 Jun 2020 | News

In the new global scenario in times of pandemic prompted by COVID-19, it is essential to take urgent measures and evaluate the impact of those actions. For this reason, and in response to a request made by the Community of Latin American and Caribbean States (CELAC), the COVID-19 Observatory came into being with the aim of supporting the region’s countries on follow-up and monitoring of the effects of the crisis caused by the coronavirus in the medium and long term. ECLAC – as part of a joint effort with the rest of the United Nations agencies, funds and programs and the support of the global …

ECLAC Presents New Regional Knowledge Management Platform for the Sustainable Development Goals in Latin America and the Caribbean

25 Jun 2020 | News

The Economic Commission for Latin America and the Caribbean (ECLAC) presented countries with the Regional knowledge management platform for the Sustainable Development Goals (SDG Gateway), developed jointly with the 22 United Nations system’s agencies, funds and programs in the region and which has become a powerful instrument for monitoring the progress and needs of countries with regard to implementing the 2030 Agenda along with advances towards achieving the 17 SDGs. This online hub for knowledge management has the aim of serving as a meeting and reference point for all information related…

ECLAC Reaffirms its Commitment to Supporting Caribbean Countries on Their Path Towards a Sustainable Recovery with Equality

24 Jun 2020 | News

The Economic Commission for Latin America and the Caribbean (ECLAC) ratified its commitment to supporting Caribbean countries on their path towards a sustainable recovery with greater equality after the crisis prompted by the COVID-19 pandemic, during a high-level virtual meeting held with ministers and authorities from more than 10 countries in the subregion. The 7th Council of Ministers on Environmental Sustainability of the Organisation of Eastern Caribbean States (OECS) took place this Wednesday, June 24, under the outgoing presidency of Martinique and the incoming presidency of Saint Luci…

ECLAC Analyzes the Link between Trade Agreements, Intellectual Property and Access to Medicines

22 Jun 2020 | News

ECLAC’s Subregional Headquarters in Mexico recently published the document “Innovation and Intellectual Property: The Case of Patents and Access to Medicines,” (in Spanish only) which analyzes the link between trade agreements – particularly the rules protecting intellectual property – and development, by studying access to medicines and the tools that States have at their disposal to fulfill their international human rights obligations. According to the report, although the right to public health has been strengthened in recent decades and the international community recognizes its importance…

ECLAC and ILO Analyze Labour Challenges in Latin America and the Caribbean in the Wake of the COVID-19 Pandemic

20 May 2020 | Announcement

The Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labour Organization (ILO) will present tomorrow, Thursday, May 21, a new edition of their joint report Employment Situation in Latin America and the Caribbean. Work in times of pandemic: The challenges of the coronavirus disease (COVID-19) (No. 22, May 2020), which on this occasion will address the labour challenges that the pandemic poses for the region’s countries. The presentation will be conducted via a simultaneous virtual press conference at 13:30 local time in Chile (UTC/GMT -4:00), and led by Alic…

ECLAC Reaffirms Commitment to Working with and for Latin American and Caribbean Countries on Regional Cooperation and Integration to Tackle Current and Future Challenges in the Face of COVID-19

17 May 2020 | News

The Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), Alicia Bárcena, held on Friday a virtual extraordinary meeting with ambassadors and representatives from the permanent missions of 31 countries in the region to the United Nations, to inform them about the actions and proposals the organization has made recently in response to the crisis unleashed by COVID-19. On this occasion, the senior official presented the Gateway for Follow-up on the Sustainable Development Goals (https://agenda2030lac.org/en), which is the result of a joint effort by the Unit…

Urgent Attention Should Be Given to the Unique Vulnerabilities and Challenges Faced by Caribbean Countries to Achieve the 2030 Agenda and the SDGs in the Context of the COVID-19 Crisis and Beyond: Alicia Bárcena

13 May 2020 | News

The implementation of the 2030 Agenda is at stake and decades of progress in human development are at risk of being reversed if more attention is not given to supporting Caribbean countries in their pursuit of sustainable development, Alicia Bárcena, Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC) stressed on Tuesday, 12 May. The COVID-19 pandemic is occurring at a time when Caribbean countries are already facing tremendous challenges in implementing the 17 Sustainable Development Goals (SDGs) given their unique vulnerability to external shocks, their…

Latin America and the Caribbean: Tax Revenue Gains under Threat Amid Deteriorating Regional Outlook

7 May 2020 | News

Tax revenues in Latin America and the Caribbean (LAC) increased to 23.1% of GDP on average in 2018, according to the new edition of Revenue Statistics in Latin America and the Caribbean published today. However, these gains are now under threat as a result of the region’s deteriorating fiscal outlook, which has been exacerbated by the COVID-19 pandemic and the global economic crisis. The increase of 0.4 percentage points (p.p.) from their level in 2017 is the highest level of tax revenues ever recorded in the region. However, LAC tax revenues remain far below the OECD average (34.3% in 20…

Alicia Bárcena Calls for Moving Towards a More Democratic Globalization, with a New Development Paradigm that Recognizes Social, Environmental and Economic Interdependence

5 May 2020 | News

At this time of pandemic provoked by the coronavirus disease (COVID-19), the need for international cooperation is more urgent on the fiscal side. For that reason, international financial organizations should grant favorable financing conditions to middle-income countries, with low-cost credit lines and debt relief, sustained Alicia Bárcena, Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC). The senior United Nations official participated today in a virtual seminar entitled How to face the COVID-19 crisis in Latin America, organized by Spanish instituti…

ECLAC Will Release New Growth Projections for Latin American and Caribbean Countries in the Wake of the COVID-19 Crisis

18 Apr 2020 | Announcement

The Economic Commission for Latin America and the Caribbean (ECLAC) will present Special Report COVID-19 No. 2 on monitoring the economic and social effects of the current crisis stemming from the coronavirus’s impact in the region – entitled Assessing the Effects of COVID-19 to Plan the Recovery – next Tuesday, April 21. This new document, the first issue of which was released on April 3, will this time include an update of the economic growth projections for the region and each of its countries, which take into account the consequences the pandemic could have for the performance of Latin Ame…

ECLAC Will Present Report on COVID-19’s Economic and Social Effects on Latin America and the Caribbean

2 Apr 2020 | Announcement

The Economic Commission for Latin America and the Caribbean (ECLAC) will present on Friday, April 3, a report entitled Latin America and the Caribbean and the COVID-19 pandemic: economic and social effects, in which it addresses this critical juncture, scenarios and projections ahead of 2030 in light of the current global pandemic crisis. The publication will be unveiled at a virtual press conference given by Alicia Bárcena, ECLAC’s Executive Secretary, from Santiago, Chile, at 13:00 local time (UTC/GMT -3:00). The presentation will be transmitted live on the Internet via the institution’s we…

Capital Flows to Latin America and the Caribbean Picked Up in 2019, but Credit Quality Declined

19 Mar 2020 | News

The report Capital Flows to Latin America and the Caribbean: 2019 Year-in-Review, recently released by ECLAC’s Office in Washington D.C., reviews the main 2019 trends in capital flows to the region. According to the study, lowering global interest rates supported Latin American and Caribbean (LAC) bond activity in 2019. Borrowers enjoyed easy financing conditions, as interest rate cuts from the U.S. Federal Reserve and the European Central Bank allowed them to issue foreign currency denominated bonds at increasingly low rates. Mexican, Brazilian and Chilean borrowers were the main contributor…

Public Policies Are Key to the Financial Inclusion of Rural Areas in the Region

18 Mar 2020 | News

The Economic Commission for Latin America and the Caribbean (ECLAC), in collaboration with the International Fund for Agricultural Development (IFAD) and the financial support of the European Union, has contributed to the analysis and development of strategies and policies to diversify the economic activities carried out by rural households in situations of poverty. A key component of these efforts has been the analysis of rural value chains. According to the document Strengthening Financial Inclusion and Capacities in Rural Areas: Guidelines for a Plan of Action (in Spanish only), edite…

ECLAC: Central America and the Dominican Republic Will Grow 3.2% in 2020

12 Mar 2020 | News

The economies of Central America (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama) and the Dominican Republic – known as the CARD countries in Spanish – will have a weighted average growth rate of 3.2% in 2020, with the highest rates forecast for the Dominican Republic and Panama, the Economic Commission for Latin America and the Caribbean (ECLAC) revealed. The document Preliminary Overview of the Economies of Central America and the Dominican Republic in 2019 and Prospects for 2020 explains that the international context was affected by trade tensions and great political un…

We Must Move Towards a New Vision of Development that is More Innovative, Diversified and Inclusive: Alicia Bárcena

2 Mar 2020 | News

The Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), Alicia Bárcena, urged the region’s countries to think about development in a different way to move towards a more innovative, diversified and inclusive vision, during a high-level event held today in Buenos Aires, Argentina. ECLAC’s highest authority was one of the main speakers at the seminar “Challenges for growth and development in Latin America,” organized by CAF-Development Bank of Latin America, in conjunction with the Argentine government. Bárcena participated on a panel about challenges rela…

Latin America Must Move from the Capitalism of Shareholders to a Fairer and More Inclusive Capitalism of Stakeholders

19 Feb 2020 | News

Promoting sustainable development and equality is not the work of a single actor – the State or the private sector – but rather of society as a whole, and the business sector plays a critical role, the Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC) highlighted at a high-level event with Mexican businesspeople held on Tuesday, February 18 in Mexico City, and presided by Nicolás Mariscal Torroella, Chairman of Consejo Marhnos. The United Nations regional organization’s most senior representative was one of the speakers on a panel entitled “Perspectives…

New policy options for economic diversification in Trinidad and Tobago

11 Feb 2020 | News

According to ECLAC Caribbean's latest policy breif , there is room for T&T to expand productive capacity and diversify exports in the agro-processing industry to improve foreign exchange earnings. The Government of T&T has articulated in its National Development Strategy for 2016-2030 and in its 2018 Midyear Budget Review the intention to transition towards a more diversified economy, which produces a broad spectrum of export competitive, high-value products and services. In this context, the government has identified agro-processing as one of the seven economic areas for the establish…

Mexico Continues to Be One of the Main Investors in Central America, but Its dynamism is Waning

9 Dec 2019 | News

Mexico’s Foreign Direct Investment (FDI) has increased during the 2009-2017 period in the Central American region, but it has shown less dynamism than the total amount of investment abroad, according to the document Mexican investment in Central America (in Spanish only), published recently by ECLAC’s Subregional Headquarters in Mexico. This reduced dynamism suggests that Mexican companies have readjusted their investment strategies, the study indicates. Mexico figures as the second-biggest investor in nearly all Central American countries, with the exception of Panama, where its FDI has been …

Policy to Incentivize Replacing the Automobile Fleet with Electric Vehicles Is Seen Affecting Tax Collection in Uruguay

9 Dec 2019 | News

In the framework of a cooperation agreement between ECLAC and the Planning and Budget Office of the Presidency of the Oriental Republic of Uruguay, the United Nations regional organization’s office in Montevideo carried out a study on the revenue impact of tax policy incentives for replacing the automobile fleet with electric vehicles. In line with global trends, Uruguay has developed a tax benefit scheme to stimulate the incorporation of electric vehicles. Current vehicle-related tax collection accounts for approximately 10% of the total revenue of the General Taxation Directorate (DGI), repr…

ECLAC will Deliver Its Final Report on the Economies of Latin America and the Caribbean in 2019

5 Dec 2019 | Announcement

The Economic Commission for Latin America and the Caribbean (ECLAC) will deliver on Thursday, December 12 its Preliminary Overview of the Economies of Latin America and the Caribbean 2019, the organization’s last annual report of the present year, in which it will update its growth estimates for the region’s countries in 2019 and projections for 2020. The publication will be presented by Alicia Bárcena, ECLAC’s Executive Secretary, in a press conference at the Commission’s headquarters in Santiago, Chile, at 11:00 a.m. local time (UTC/GMT -3:00). The event will also be broadcast live on the In…

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