Exponential technologies for managing inland waterway transport

This FAL Bulletin addresses smart navigation systems, such as smart waterway systems and port community systems. The purpose of this analysis is to explore global experience in the digitalization of logistics and transport processes for application to waterway management in South America and empower national and regional public institutions to lead the digital transformation of external trade with a view to reducing operational risks and narrowing the digital divide between Latin America and the Caribbean and other regions.…

On the road to the Second World Summit for Social Development: contributions from the regional commissions

The joint document underscores the need to strengthen social policies and tailor them to a risk structure reconfigured by global crises. Alongside high levels of poverty, inequality and informal employment, profound transformations in demographics, climate, technology and the labour market are under way. Complementary actions beyond social policy are also needed, as progress is equally crucial in the economic and environmental dimensions. Regional frameworks and agreements have been instrumental in driving social policy change and must continue to be leveraged, including in the universalizatio…

Artificial intelligence readiness in the Caribbean: An exploratory review

The aim of this study is to consolidate the many sources of information on AI in the Caribbean, providing policymakers, academics and decision makers in the Caribbean AI space with a general overview of the AI landscape in the Caribbean, while making initial recommendations and suggesting areas for future research. Given the pace at which the field of AI is developing, and how quickly AI tools have become generally available to the public, data and research on the impacts of AI and AI readiness are limited. This study is therefore not comprehensive in its assessment. As a desk study, the resea…

Drivers of public debt reduction in the Caribbean: a case study of Jamaica, Saint Kitts and Nevis and Suriname

The Caribbean’s long-running public debt challenge has been worsened by COVID-19. Recent international interest rate increases and the looming threat of climate change impacts place even more burden on Caribbean governments' budgets. While the Caribbean's average debt burden has risen in the past 13 years, some countries have been able to lower their debt ratios. This study closely examines the performance of two Caribbean countries which over the past 13 years, have seen a sustained downward trend in their debt ratios, Jamaica and Saint Kitts and Nevis, and one country that has seen…

Progress and challenges in road safety in Latin America and the Caribbean

This FAL Bulletin concerns the work carried out by the Infrastructure Services Unit in the implementation of projects funded by the United Nations Road Safety Fund. This edition analyses progress and challenges in road safety in recent years, as well as the contributions of the Fund, which have had a positive impact in terms of reducing road accidents in the Latin American and Caribbean region.…

Progress and challenges of public-private partnerships and the importance of institutions for sustainable infrastructure in Latin America and the Caribbean

This FAL Bulletin sets out some of the characteristics of public investments in infrastructure through public-private partnership (PPP) mechanisms in Latin America and the Caribbean, as well as challenges they face. It also looks at the performance of institutions and the importance of raising the standard of investments —whether public or private— under approaches oriented towards sustainable-development. The importance of stakeholder participation throughout the project life cycle is underlined as a particularly pivotal requirement for the sustainability of assets and their services.…

United States economic outlook: third quarter of 2024

The United States economy expanded at an annualized rate of 3.1% in the third quarter of 2024, above the economy’s long-term growth potential and the 3.0% growth recorded in the second quarter, driven primarily by consumer spending. The resilience of consumer spending has been supported by receding inflation and a robust labour market. Employment has increased for 47 consecutive months, but the labour market is softening. Progress in bringing down inflation has stalled over the past three months, with inflation rising from 2.4% in September 2024 to 2.7% in November. The Federal Reserve cut int…

United States-Latin America and the Caribbean Trade Developments 2024

United States trade in goods slowed in 2023, ending the recovery following the coronavirus disease (COVID-19) pandemic, as goods exports and imports declined by 2.2% and 4.9%, respectively. The decrease in merchandise trade contrasts with significant improvements in services trade, as exports and imports of services rose by 8.2% and 4.8%, respectively. Recently, exports of digitally enabled services have considerably outpaced those of other services and goods, underscoring their growing importance in the global market. The relative weight of Latin America and the Caribbean in United States tra…

Guidelines for care policies from a gender, territorial and intersectional perspective

Latin America and the Caribbean is immersed in a care crisis that is having a disproportionate impact on women and especially those subject to various forms of intersectional exclusion. This crisis is reflected in increasing demand for care services that is linked to many different interrelated factors, such as the rapid ageing of the population, changes in the labour market, the effects of climate change, migration flows that alter the dynamics of care in places of origin and destination, and insufficient care services and infrastructure. Hence the urgent need to work on designing and strengt…

The Hummingbird Vol. 12 No. 1

Panorama of Productive Development Policies in Latin America and the Caribbean, 2024: How can the region advance the great productive transformation it needs?

For Latin America and the Caribbean to break from the trap of low growth and low productivity in which it is mired, the region will need to build more sophisticated and diversified economies and bring about virtuous structural change. This will entail a long-term effort, not least the continued improvement of economic fundamentals. To this end, the Economic Commission for Latin America and the Caribbean (ECLAC) has urged the countries of the region to scale up and enhance their productive development policies, adopting a new approach that differs substantially from what has hitherto been refer…

Guide for prioritizing and evaluating environmental remediation projects: managing mining legacies

This document contains information, methodologies and guidelines for policymakers and those responsible for implementing public policies aimed at prioritizing investment in environmental remediation projects. It presents an analysis of the concepts of environmental mining legacies and remediation, as well as their most important aspects, taking into account the heterogeneity of the definitions used in the countries of Latin America and the Caribbean. Emphasis is placed on safeguarding human rights, environmental protection, liability for remediation of damage, and economic and financial analys…

Social Panorama of Latin America and the Caribbean, 2024: the challenges of non-contributory social protection in advancing towards inclusive social development

This edition of the Social Panorama of Latin America and the Caribbean, 2024 focuses on the challenges of non-contributory social protection in advancing towards inclusive social development in the region. Tackling the development crisis, inclusive social development gaps and changing risk structure demands progress towards universal, comprehensive, sustainable and resilient social protection systems. Non-contributory social protection policies are essential to fulfil the goals and functions of social protection systems: the protection of income, access to social services and labour inclusion.…

Analysis of developing countries’ external financial vulnerability

The United States dollar has increased its importance as an international medium of exchange, maintained its strength as a store of value and reinforced its role as the world’s unit of account. At the same time the capital market has become a major source of funding throughout the world including for developing countries. This context has major financial implications for the United States and for those countries, mainly developing countries, that are anchored to the dollar. These implications are brought to the fore by focusing on some of the main transmission mechanisms of international finan…

Development profile of ECLAC associate members: statistical report on the economic, social and environmental situation

This study presents a statistical analysis of the situation of AMCs, based on the data that is available, shedding light on their distinct circumstances. It reveals that while AMCs boast higher GDP per capita than many Caribbean member States, their economies have had low growth and are highly dependent on trade, with some territories recording concerning levels of public debt. Socially, the AMCs face an ageing population, varied poverty levels, and have disparate social protection systems. Environmentally, they face challenges due to disasters arising from natural hazards, although there has …

Financial inclusion, risk aversion and women’s entrepreneurship in Latin America and the Caribbean: a survey of the literature

Access to credit is a key component for business development. Yet, for women in Latin America and the Caribbean, there are barriers which hinder this access, hamper women’s entrepreneurship and slow economic empowerment efforts in the region. One of these barriers is risk aversion, both as supply and demand constraint. On the supply side, financial institutions may exhibit inherent gender bias by providing lower levels of financing and higher interest rates to women entrepreneurs. On the demand side, women entrepreneurs may refrain from approaching financial institutions for fear of rejection …

Capital flows to Latin America and the Caribbean: first 10 months of 2024

Latin American and Caribbean issuers placed US$ 112 billion of bonds in international markets in the first 10 months of 2024. This total was 40% higher than in the same period in 2023. The market remained open to high-yield issuers from the region, but most of the region’s issuances (58%) came from the investment grade sector. After two consecutive years in which sovereign issuances surpassed the 50% mark, corporate bond issuances in the reporting period represented 57% of the total. The region issued US$ 29 billion in green, social, sustainability and sustainability-linked bonds in internatio…

Economic Survey of Latin America and the Caribbean, 2023. Accessible version

The Economic Survey of Latin America and the Caribbean 2023 analyses the complex macroeconomic scenario for the countries of Latin America and the Caribbean, and projects that low economic growth will continue in 2023 and 2024. Inflation is expected to ease, although it will remain relatively high, as will public debt levels. This is coupled with a slowdown in employment, investment and consumption, and rising social demands. The report shows that both external and domestic factors have affected the region’s economic performance. This edition of the Economic Survey also analyses the macroecon…

Guidelines for preparing accessible documents of the Economic Commission for Latin America and the Caribbean (ECLAC): basic recommendations

The United Nations Disability Inclusion Strategy is the outcome of a process launched by the Secretary-General in April 2018 to strengthen system-wide accessibility for persons with disabilities and the mainstreaming of their rights. The Strategy includes a system-wide policy for the coming decade and aims to establish an institutional framework for the implementation of the Convention on the Rights of Persons with Disabilities and the 2030 Agenda for Sustainable Development, among other international human rights instruments, and for the fulfilment of humanitarian and development commitments.…

Latin American Economic Outlook 2024: Financing Sustainable Development

In order to fund their ambitious sustainable development agendas, Latin American and Caribbean countries need to expand their financing sources. This 17th edition of the Latin American Economic Outlook proposes a series of policy options to mobilise the necessary resources, based on co-ordinated actions between policy makers, the private sector and their international partners. It argues that public resources should be invested more efficiently, tax better collected and debt better managed. Even with those improvements, private resources will be equally crucial, as public revenues will not be …