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Experts call for debt restructuring and new financial instruments to tackle climate change and nature loss in ‘critical decade of action’

23 Apr 2025 | News

A new expert report commissioned by the governments of Colombia, Kenya, France and Germany urges the international community to tackle the ‘vicious circle’ of rising debt burdens, climate change and nature loss. The Expert Review on Debt, Nature and Climate shows how climate change and nature risks are worsening the growth and debt prospects of many emerging market and developing countries (EMDCs) at the same time as rising debt service burdens are reducing their ability to tackle such risks. The report aims to support countries make their debt more sustainable to finance much-needed climate a…

Foreign Ministers of Latin America and the Caribbean Ratified their Commitment to Multilateralism and Advocated for Urgent Reform of the International Financial Architecture at ECLAC’s Meeting in Peru

9 Oct 2024 | News

In a context of multiple global crises, foreign ministers and senior authorities from Latin America and the Caribbean and other member countries of ECLAC ratified today their commitment to multilateralism, regional cooperation and implementation of the 2030 Agenda for Sustainable Development, and they reiterated the urgent need to reform the multilateral system and the international financial architecture so that this eminently middle-income region can access adequate financing for moving towards more productive, inclusive and sustainable development. The Dialogue of Ministers of Foreign Affa…

Fiscal Policy should Foster the Transformation of Development Models, Including Aspects of Growth and the Reduction of Inequalities

17 May 2023 | News

Fiscal policy should not only help to navigate the needs and urgencies in the short term, but also the transformations of development models in the longer term, including both aspects of growth and reduction of inequalities, said José Manuel Salazar-Xirinachs, Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), at the closing of the XXXV Regional Seminar on Fiscal Policy, which concluded on Wednesday, May 17 at the organization's headquarters in Santiago, Chile. After three days of discussions in which the challenges of fiscal policy to boost economic an…

XXXV Regional Seminar on Fiscal Policy will Analyze Challenges of Fiscal Policy to Boost Growth and Productive Transformation in a Complex Macro-financial Context

11 May 2023 | Announcement

The Economic Commission for Latin America and the Caribbean (ECLAC) will hold the XXXV edition of the Regional Seminar on Fiscal Policy from May 15 to 17. For 35 years, this renowned regional forum has brought together authorities, experts, civil society and academia to discuss the fiscal policy challenges facing the countries of the region. The meeting includes the participation of the Inter-American Development Bank (IDB), the Organization for Economic Cooperation and Development (OECD) and the International Monetary Fund (IMF), and is sponsored by the Spanish Agency for International Develo…

Alicia Bárcena Urged for Strengthening Multilateral, Regional, Subregional and National Banks and Improving their Coordination to Respond to Latin America and the Caribbean’s Financing Challenges

3 Dec 2021 | News

Strengthening multilateral, regional, subregional and national development banks, while also improving cooperation and coordination among them, is key for responding to the region’s financing challenges in the context of the crisis prompted by the COVID-19 pandemic, Alicia Bárcena, Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), indicated today during a hybrid meeting (in person and virtual) organized by the Government of Costa Rica following the thirty-sixth session of the Commission’s Committee of the Whole, held at United Nations headquarters. Reg…

Growing Global Asymmetries between Developed and Developing Countries Hinder a Post-Pandemic Recovery with Greater Equality and Sustainability: ECLAC

18 Oct 2021 | News

Presentation by Alicia Bárcena, ECLAC Executive Secretary (PDF). The Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), Alicia Bárcena, participated today in a high-level dialogue between the United Nations Regional Commissions and the Second Committee (on economic and financial matters) of the global organization’s General Assembly, where she flagged the growing global asymmetries between developed countries and developing nations, above all in terms of access to vaccines and financing, as well as concentration of wealth, income and technolog…

Authorities from the Region Posed the Urgency of Renewed Cooperation with Development in Transition Countries Based on a Multidimensional Measurement of Sustainable Development

14 Jul 2021 | News

Authorities from Latin America and the Caribbean along with international officials posed the urgency of renewing international cooperation on the basis of a multidimensional measurement of development, which would take into account the structural gaps that middle-income countries face, during a virtual event organized by the Government of Costa Rica and the Economic Commission for Latin America and the Caribbean (ECLAC) on the sidelines of the High-level Political Forum on Sustainable Development 2021. The virtual event entitled Multidimensional measurements of development: opportunities for …

It is Necessary to Rethink and Recreate Financial and International Cooperation Systems Altogether: ECLAC

12 Jul 2021 | News

The Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), Alicia Bárcena, reaffirmed today that developing countries and especially middle-income countries (which comprise the majority of the region’s nations) need a liquidity boost and to participate actively in debt relief initiatives. “The developed world is investing to achieve the 2030 Agenda’s Sustainable Development Goals (SDGs) and a green recovery, but developing countries are being left behind,” the Commission’s highest authority warned during a session entitled Investing in the SDGs, held in the…

Alicia Bárcena Highlights the Need for a Renewed Global Compact to Strengthen Multilateralism and Greater Solidarity with Middle-Income Countries

3 Jul 2021 | News

The Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), Alicia Bárcena, highlighted the important role played by the United Nations Economic and Social Council (ECOSOC) in building a renewed global compact to strengthen multilateralism and promote greater solidarity with middle-income countries on key issues such as debt and the transition to sustainable, low-carbon growth models. ECLAC's highest authority participated this Friday, July 2, in a high-level meeting held virtually within the framework of the 2021 Integration Segment of ECOSOC, which – under…

Experts Stress the Need to Create a New Financing Model, at the Conclusion of the Thirty-Third Regional Seminar on Fiscal Policy

23 Apr 2021 | News

The XXXIII Regional Seminar on Fiscal Policy, one of the main forums of reference for discussing issues related to the public finances of Latin American and Caribbean countries, concluded this Friday, April 23, with three webinars featuring prominent specialists who debated matters of financing for development, tax evasion and illicit flows, as well as climate finance. The final day of the seminar – which has served for 33 years as a high-level, multilateral regional space for exchanging opinions about the region’s macroeconomic and fiscal policies and challenges – began with a webinar entitle…

Authorities and Experts at ECLAC Analyze the Regional Challenges Posed by the International Financial Crisis

10 Jan 2019 | News

In a meeting held at ECLAC headquarters in Santiago, Chile, authorities and experts discussed international financial volatility, global economic uncertainty and lower perspectives for growth dynamics in 2019 in the countries of Latin America and the Caribbean. During the seminar on “Latin America and EU Regionalism: Towards a Cooperative Way-out beyond the Crisis”, distinguished speakers addressed the challenges currently facing the region in terms of fiscal, monetary, economic and institutional reforms in the face of the questioning of multilateralism worldwide. The meeting, or…

Experts Agree Role of Region’s MSMEs Must Be Rethought to Integrate Them into Fourth Industrial Revolution

10 Oct 2017 | News

The fourth industrial revolution underway is forcing a rethinking of the role of micro, small and medium-sized enterprises (MSMEs) in Latin America and the Caribbean and requires policies that enable the development of capacities to successfully compete in today’s productive systems, which are characterized by their dynamism, experts agreed during a meeting organized by the Euromipyme project in Mexico City. The Regional Seminar Latin America and Europe in the Face of Technological Disruption: A New Era of Policies and Institutions for MSMEs began today in Mexico with the participation of Susa…

Economist Mariana Mazzucato Will Give Prebisch Lecture at ECLAC

31 Mar 2016 | Announcement

Renowned Italian-American economist Mariana Mazzucato will deliver next Tuesday, April 19 the XIV Raúl Prebisch Memorial Lecture Series at the headquarters of the Economic Commission for Latin America and the Caribbean (ECLAC) in Santiago, Chile, where she will be received by the Executive Secretary of the United Nations regional organization, Alicia Bárcena. Mazzucato, who is a Professor in the Economics of Innovation at the Science Policy Research Unit (SPRU) of the University of Sussex, United Kingdom, will present at 11.00 a.m. a lecture entitled “Entrepreneurial State: Creation of Markets…

New Global Financial Regulations May Have Unintended Consequences on Developing Countries

8 Sep 2015 | News

The new rules and standards that emerged in the aftermath of the global financial crisis of 2008 seeking to stabilize the global economy, may have had unintended consequences on emerging and developing countries, a new ECLAC study states. The report Global financial rulemaking and small economies, prepared by Inés Bustillo and Raquel Artecona, Chief and Economic Affairs Officer, respectively, of ECLAC’s office in Washington D.C., indicates that the lack of representation of emerging and developing economies in standard-setting world bodies may affect the effectiveness of global financial…

Experts Call for New Rules to be Defined on Financing for Development

14 Jul 2015 | News

There is an urgent need to define new rules for financing sustainable development in the world, participants in the side event Regional Perspectives on Implementing an Ambitious, Transformative Sustainable Development Agenda agreed. The event was hosted on Tuesday, July 14 by the five United Nations regional commissions, of which ECLAC is one, in Addis Ababa, Ethiopia. During the event—which took place in the framework of the Third International Conference on Financing for Development, being held through July 16 in Ethiopia—the U.S. economist and Nobel Prize winner Joseph Stiglitz called for “…

Ministers and Experts Will Debate in Addis Ababa the Challenges to Finance the Development of Latin America and the Caribbean

8 Jul 2015 | Announcement

Ministers and senior officials from Latin America and the Caribbean, along with Nobel prize winning economist Joseph Stiglitz and the Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), Alicia Bárcena, will participate in an event on the challenges faced by the region to finance its development, in the framework of the international conference on this matter that will take place on July 13-16 in Addis Ababa, Ethiopia. The event, which will address the domestic mobilization of resources and the international financial governance from the perspective of mi…

Development Banking in the Region Offers Mechanisms for Internationalization of SMEs

2 Dec 2014 | News

Development banking in the region has made efforts to facilitate the internationalization of small and medium-sized enterprises (SMEs), given that most of their financing programs include these companies among their targets (92 %), establish flexible terms (36 %) and demand guarantees or endorsements adjusted to their possibilities, according to a report recently published by the Economic Commission for Latin America and the Caribbean (ECLAC). The figures of the study Financing of International Trade and the Role of Development Banking in Latin America and the Caribbean (available on…

Study Analyzes the Viability of Expanding the Latin American Reserve Fund to Other Countries in the Region

5 Mar 2014 | News

A new study by the Economic Commission for Latin America and the Caribbean (ECLAC), entitled A regional reserve fund for Latin America, analyzes the viability of expanding the Latin American Reserve Fund (FLAR) to five more of the region's countries: Argentina, Brazil, Chile, Mexico and Paraguay. In September, however, Paraguay was incorporated into the FLAR, whose other members include Bolivia, Colombia, Costa Rica, Ecuador, Peru, Uruguay and Venezuela. Founded in 1978, the FLAR is the only regional fund of Latin American reserves and it was formed as an organization in which members mak…

Thirty Years after the Debt Crisis, the Region Has Better and Cheaper Access to International Bond Markets

5 Mar 2014 | News

Thirty years after the debt crisis erupted in 1982, Latin America and the Caribbean has higher-quality and cheaper access to the international bond market, which is the second-biggest source of external financing after foreign direct investment (FDI), according to a new study by the Economic Commission for Latin America and the Caribbean (ECLAC). The document, entitled Debt financing rollercoaster: Latin American and Caribbean access to international bond markets since the debt crisis, 1982-2012, shows that during the biennium of 2010-2011, bond flows toward Latin America and the Caribbea…

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