Latin American Economic Outlook 2019

ECLAC, CAF Development Bank & OECD

“Latin American Economic Outlook 2019” has been put together by the Economic Commission for Latin America and the Caribbean (ECLAC); the Latin American Development Bank (CAF); the European Commission and the Organization for Economic Cooperation and Development’s (OECD) Development Center.

The paper argues that there is a new strategy, “Transitional Development”, for the inclusive and sustainable development of countries in Latin America and the Caribbean so that they can be aligned with the goals of the Agenda 2030. The strategy is based on two principles:

  •      Improving national capabilities in designing public policies and better financing, both public and private
  •      Strengthening international cooperation, emphasizing that partnerships between countries at different levels of development are needed to achieve this; putting national strategies at the center of the debate; and including tools such as knowledge exchange, multilateral policy dialogue, access to technology and cooperation in science, technology and innovation.

The report also acknowledges that the new strategy is necessary in order to deal with the “new hurdles” to development: social vulnerability, low labor productivity, lack of trust in institutions and environmental threats.

Read the document here