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Poor Investment Performance, Low Labor Productivity and Limited Fiscal Space Keep Latin America and the Caribbean in a Trap of Low Economic Growth

13 Aug 2024 | Press Release

ECLAC released today a new edition of its annual report Economic Survey of Latin America and the Caribbean 2024: Low-growth trap, climate change and employment trends, in which it stresses that the region remains stuck in a trap of low growth accompanied by poor investment performance and low labor productivity, which is compounded by limited domestic space for implementing macroeconomic policies for a reactivation as well as global uncertainty. The report – one of this United Nations regional economic commission’s most important – was presented in Santiago, Chile at a press conference led by …

ECLAC: Foreign Direct Investment in Latin America and the Caribbean Fell by 9.9% in 2023, but Amount Received is Above the Average in the Last Decade

1 Aug 2024 | Press Release

In the context of a second straight year of declines in global Foreign Direct Investment (FDI) flows, Latin America and the Caribbean in 2023 received $184.304 billion dollars in FDI, a figure that is 9.9% below what was recorded in 2022 but is still above the average notched in the last decade, the Economic Commission for Latin America and the Caribbean (ECLAC) reported today. The weight of Foreign Direct Investment inflows as a share of the region’s GDP also declined: in 2023, it represented 2.8%. However, the region’s participation in global FDI flows (14%) was higher than the average perce…

The Montevideo Consensus on Population and Development Contributes to Laying the Foundations for People-Centered Sustainable Development in the Region, with Equality and a Human Rights Perspective

4 Jul 2024 | Press Release

The Montevideo Consensus on Population and Development contributes to laying the foundations for people-centered sustainable development with equality and a human rights, gender, race and ethnicity, disability, and intercultural perspective, taking into account migration status, according to the authorities and delegates from 21 Latin American and Caribbean countries, from United Nations agencies, and regional, multilateral and civil society organizations gathered today at the closing segment of the Fifth Session of the Regional Conference on Population and Development. At this event – which d…

Authorities Reaffirm the Relevance of the Montevideo Consensus on Population and Development, a Regional Road Map for Achieving More Inclusive, Productive and Sustainable Development

3 Jul 2024 | Press Release

The Montevideo Consensus on Population and Development is more relevant than ever and is a critical regional road map for achieving more inclusive, productive and sustainable development in Latin America and the Caribbean, authorities and country delegates from the region reaffirmed today at the inauguration of the Fifth Session of the Regional Conference on Population and Development, which is taking place through Thursday, July 4 at the Convention Center in Cartagena de Indias, Colombia. At the opening session of this event – which has brought together more than 560 people, including represe…

ECLAC: The Private Sector is Called Upon to Be an Agent of Change for the Productive Transformation of the Latin America and Caribbean Economy

28 Jun 2024 | Press Release

The private sector is called upon to be an agent of change for the transformation of Latin America and the Caribbean’s economy, in the pursuit of more productive, inclusive and sustainable development for the region, playing an even more vital role in the framework of productive development policies, the Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), José Manuel Salazar-Xirinachs, stated this Friday, June 28, at the inauguration of the Regional Dialogue: “The role of the private sector in the framework of a new vision for productive development poli…

It is an Opportune Time for Mexico to Design a Productive Development Policy: ECLAC

26 Jun 2024 | Press Release

Mexico is at the center of major productive and geopolitical changes that pose an opportunity for its economic, social and environmental development, Jorge Mario Martínez-Piva, Officer-in-Charge of the Subregional Headquarters of the Economic Commission for Latin America and the Caribbean (ECLAC) in Mexico, stated today. The world is undergoing a period of profound changes, and geopolitical tensions are leading to geoeconomic fragmentation. The leading economic powers are incentivizing a new generation of productive development policies and the relocation of their production and supply chains.…

ECLAC Calls for Comprehensive Policies to Address the Trap of High Inequality and Low Social Mobility in which Latin America and the Caribbean is Caught

25 Jun 2024 | Press Release

Latin America and the Caribbean needs to comprehensively address at least five factors underlying social inequality in the region, starting by increasing economic growth through new-generation productive development policies, the Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), José Manuel Salazar-Xirinachs, sustained today at the inauguration of the Fourth Regional Seminar on Social Development “Social Protection and Inequality: Latin America and the Caribbean towards the Second World Summit for Social Development of 2025”, which is taking place thro…

Parliamentarians Analyze at ECLAC Challenges and Opportunities for Strengthening and Consolidating Committees of the Future in Latin America

20 Jun 2024 | Press Release

Parliamentary representatives from Argentina, Brazil, Chile, Colombia, Costa Rica, the Dominican Republic, Mexico, Paraguay and Uruguay, along with more than 30 regional and international experts, gathered today at the headquarters of the Economic Commission for Latin America and the Caribbean (ECLAC) in Santiago, Chile for the First Regional Conference of Parliamentary Committees of the Future. The event, which is taking place through Friday, June 21, is being organized by ECLAC with support from the Senate of the Republic of Chile and the Parliament of Uruguay. Its main objective is to incre…

First Meeting of the Presiding Officers of the Regional Conference on South-South Cooperation in Latin America and the Caribbean Took Place at ECLAC’s Headquarters

19 Jun 2024 | Press Release

Representatives of government, the United Nations System, and regional and international organizations participated today in the First Meeting of the Presiding Officers of the Regional Conference on South-South Cooperation in Latin America and the Caribbean, which took place at ECLAC’s central headquarters in Santiago, Chile. The meeting was inaugurated by Luis Fidel Yáñez, Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC) – speaking on behalf of the organization’s Executive Secretary, José Manuel Salazar-Xirinachs – and Mateo Estremé, Director-General of Interna…

“No More Lost Decades for Latin America and the Caribbean”: ECLAC Lays Out its Proposal for Economic and Social Transformation

7 Jun 2024 | Press Release

The Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), José Manuel Salazar-Xirinachs, warned that Mexico along with Latin America and the Caribbean as a whole are facing a development crisis that is manifested in three main traps: low, volatile, exclusionary and unsustainable growth; high inequality, low social mobility and social cohesion; and low institutional capacities and ineffective governance. After being awarded with the Maestro Ricardo Torres Gaitán 2024 Lecture from the National Autonomous University of Mexico (UNAM), and expressing his gratit…

Latin American and Caribbean Economies Will Grow 2.1% in 2024, in a Context of Global Uncertainty

9 May 2024 | Press Release

The Economic Commission for Latin America and the Caribbean (ECLAC) made a slight upward revision to its growth projection for the region’s economies in 2024. According to new estimates released today, the United Nations organization forecasts that the region will grow by 2.1% on average this year, with South America growing by 1.6%, Central America and Mexico by 2.7%, and the Caribbean (excluding Guyana) by 2.8%. The region’s expected expansion in 2024 continues on the path of low economic growth observed in recent years, and the major challenge is how to move towards higher, more dynamic and…

Major Transformations in Latin America and the Caribbean’s Development Models Require Expanding Fiscal Space to Give Sustainability to Public Finances

8 May 2024 | Press Release

The major transformations needed in Latin America and the Caribbean’s development models in order to achieve more productive, inclusive and sustainable societies require an expansion of fiscal space to give sustainability to public finances, according to the authorities, experts and academics gathered at the XXXVI Regional Seminar on Fiscal Policy, which concluded this Wednesday, May 8 at ECLAC’s headquarters in Santiago, Chile. This renowned regional forum – which has brought together authorities, specialists and members of civil society and academia for 36 years to discuss the fiscal policy …

Surge in Oil and Gas Revenue Drove Up Tax Receipts in Latin America and the Caribbean in 2022

7 May 2024 | Press Release

Tax revenue rose as a share of GDP on average across Latin America and the Caribbean (LAC) countries between 2021 and 2022 due partly to a sharp increase in revenue from the oil and gas sector, according to a new report. Revenue Statistics in Latin America and the Caribbean 2024, released today at the 36th Regional Fiscal Seminar in Santiago, Chile, shows that the average tax-to-GDP ratio in the LAC region rose by 0.3 percentage points (p.p.) in 2022 to 21.5%. This was slightly below its level prior to the COVID-19 pandemic (21.6% in 2019) and below the average tax-to-GDP ratio for OECD countr…

Countries that Make Up the Regional Platform for Tax Cooperation in Latin America and the Caribbean Issue Joint Statement in Support of Brazil’s G20 Presidency

6 May 2024 | Press Release

Authorities from the countries that make up the Regional Platform for Tax Cooperation in Latin America and the Caribbean (PTLAC) met today at the central headquarters of the Economic Commission for Latin America and the Caribbean (ECLAC) in Santiago, Chile, where the entity held a Meeting of its Council of Treasury, Economy and Finance Ministers. There, the members of PTLAC agreed to issue a joint statement on the platform’s priorities, and they backed Chile to take over the initiative’s pro tempore presidency from Colombia, the country that held that position in the 2023-2024 period. Chile’s …

The Next Summit for Social Development is an Opportunity to Improve Social Conditions in the World, Accelerate Progress on the 2030 Agenda and Strengthen International Cooperation

30 Apr 2024 | Press Release

The Second World Summit for Social Development to be held in 2025 is a significant opportunity to reduce inequalities and promote social justice and non-discrimination, according to the high-level representatives of diverse United Nations entities attending a dialogue held today at the headquarters of the Economic Commission for Latin America and the Caribbean (ECLAC) in Santiago. They also emphasized that this global gathering can accelerate efforts to achieve the 2030 Agenda for Sustainable Development and inclusive social development in the world. Despite progress made in recent decades in …

FAO, ECLAC, WFP and IICA: Failure to Eradicate Hunger and Malnutrition Costs More than the Cost of Solutions

29 Apr 2024 | Press Release

(April 29, 2024, Santiago, Chile) –The new report Financing Food Security and Nutrition in Latin America and the Caribbean, jointly produced by the Food and Agriculture Organization of the United Nations (FAO), the Economic Commission for Latin America and the Caribbean (ECLAC), the World Food Program (WFP) and the Inter-American Institute for Cooperation on Agriculture (IICA), warns that the costs of not combating hunger and malnutrition may be higher than the costs of solutions to ensure food security and better nutrition. According to the report, the cost of inaction in the face of the imp…

COP 3 of the Escazú Agreement Reinforces the Commitment to Recognize, Protect and Promote All the Rights of Human Rights Defenders in Environmental Matters

24 Apr 2024 | Press Release

The third meeting of the Conference of the Parties (COP 3) to the Regional Agreement on Access to Information, Public Participation and Justice in Environmental Matters in Latin America and the Caribbean – known as the Escazú Agreement – concluded today at the main headquarters of the Economic Commission for Latin America and the Caribbean (ECLAC), reinforcing the commitment to recognize, protect and promote all the rights of human rights defenders in environmental matters. At this three-day meeting, the States Parties approved the Action Plan on Human Rights Defenders in Environmental Matters…

COP 3 of the Escazú Agreement Begins at ECLAC with the Commemoration of International Mother Earth Day

22 Apr 2024 | Press Release

The third meeting of the Conference of the Parties (COP 3) to the Regional Agreement on Access to Information, Public Participation and Justice in Environmental Matters in Latin America and the Caribbean – known as the Escazú Agreement – began today at ECLAC’s headquarters in Santiago, Chile, on the precise day that International Mother Earth Day is celebrated worldwide. This event – which will run through April 24 – has brought together authorities and official representatives of countries that are already part of the region’s first environmental treaty as well as observer countries, experts …

Eradicating Poverty and Hunger is an Indispensable Requirement for Achieving Sustainable Development in Latin America and the Caribbean

18 Apr 2024 | Press Release

Authorities and delegates from 29 Latin American and Caribbean countries, from United Nations agencies and regional and multilateral organizations and from civil society participating in the seventh meeting of the Forum of the Countries of Latin America and the Caribbean on Sustainable Development ended the gathering today with the recognition that without eradicating poverty in all its forms and dimensions, and hunger, it will not be possible to build more inclusive, productive and sustainable development in the region. They further stressed the need to implement comprehensive and cross-secto…

Countries Call for Revitalizing the Commitment to the 2030 Agenda and Fostering Renewed, Bold Policies and Actions for Accelerating Fulfillment of the SDGs

16 Apr 2024 | Press Release

The countries of Latin America and the Caribbean urged today for revitalizing the commitment to the 2030 Agenda for Sustainable Development and fostering renewed and bold policies and actions to step up the pace towards fulfilling the Sustainable Development Goals (SDGs), at the inauguration of the seventh meeting of the Forum of the Countries of Latin America and the Caribbean on Sustainable Development, which is taking place through Thursday, April 18 at ECLAC’s main headquarters in Santiago, Chile. At the opening session of this event – which has brought together representatives of the regi…

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