The World Bank recognizes the innate value of racial equity in global efforts to eradicate poverty and create opportunities that boost prosperity for all. By enabling all persons to realize their full potential regardless of race, racial equity enhances benefits for society as a whole and aids the attainment of long-term development objectives and the reduction of poverty.
No Precedent: The Venezuelan Exodus
The unprecedented migration from Venezuela is the largest and fastest displacement of vulnerable people in the world after the Syrian crisis. An estimated 3.7 million people have left Venezuela as of April 2019, according to the International Organization for Migration, and are now residing in neighboring countries including Colombia, Ecuador, Peru, Chile, and other countries across the region. Every day, thousands more are crossing the border, sometimes walking for weeks, fleeing the severe economic and social deterioration in Venezuela that has led to a humanitarian crisis. This massive exodus IS the second largest displacement in the world and is unprecedented in the recent history of Latin America and the Caribbean. A high-level panel of experts discussed the implications, and potential opportunities, for both migrants and the countries and communities hosting them. They also analyzed how the region can manage this massive exodus and mobilize international support to complement the efforts of the countries in the region. The ...
Risk management is fundamental for Latin America and the Caribbean. Incidents of natural disasters have tripled since 1970 and with climate change, their intensity and the frequency are going to increase. But natural disasters are not the only risk these countries face. Economic shocks and abrupt swings in commodity prices can also have a devastating effect in the population, especially on the most vulnerable. In Thursday’s conversation on Protecting Latin America and the Caribbean’s Future Against Risks, Jorge Familiar, World Bank Vice President for Latin America and the Caribbean was joined by a panel of leading financial experts and policymakers including Jane Fraser, CEO of Citigroup Latin America; Paraguay Minister of Finance Lea Giménez; Chief Executive of the State Development Bank of Brazil BNDES, Dyogo Henrique de Oliveira; President of Mexico’s National Banking and Securities Commission CNBV, Bernardo Gonzalez; and the Governor of the Eastern Caribbean Central Bank, Timothy Antoine. During the discussion, panelists agreed that the ...
What will it take for the small island states of the Caribbean to become more resilient and sustainable following the recent hurricanes? Join us live on October 13 at 5:00 pm, as we discuss this and other topics with Timothy Antoine, Governor of the Eastern Caribbean Central Bank.
World Bank Chief Economist for Latin America and the Caribbean Carlos Végh said on Wednesday that after six years of growth deceleration, 2017 would constitute the first year with an increase in growth. The improvement was mainly driven by a strong recovery in Argentina and a more tepid one in Brazil. However, the region will not have the benefits of favorable external factors such as a buoyant global economy or a great demand of raw materials. This means that Latin America must boost its own growth and put its house in order - in some cases with difficult public spending and money management decisions. This was acknowledged by Végh during the presentation of the report "Between a rock and a hard place: the monetary policy dilemma in Latin America and the Caribbean”. This commodity-exporting emerging markets face a critical monetary policy dilemma each time there is an external shock, for example a sudden fall in commodity prices. How should ...
With the lower commodity prices and uncertain global scenario, Latin America and the Caribbean is looking for alternatives to boost economic growth to continue on its path of reducing poverty and inequality. There is increasing consensus in the region that closing the infrastructure gap will be essential to set the stage for economic recovery. This event will discuss challenges such as the financing, planning, implementation and regional coordination of effective infrastructure programs, and strengthen the momentum for reform in the area.
Productivity is slowing down around the world in advanced, emerging and developing economies alike. Yet, accelerating productivity growth remains key to sustaining inclusive growth. With no consensus on either the causes of the current decline or the actions to address it, there remains much analysis and debate on the subject.
Join senior policymakers and analysts from East Asia and Latin America for a discussion on what has worked and what still needs to be done to boost productivity in order to sustain inclusive growth.
By the time you have read this, somewhere in Latin America and the Caribbean someone has probably died by homicide. In fact, the region sees at least four homicide victims every 15 minutes.
As insecurity has skyrocketed over the years it has become abundantly clear that there is no magic formula or policy to address it. We will not solve this problem by relying solely on heavier law enforcement, on higher education, or on lower unemployment; but instead through a combined approach.
The report “Stop the violence in Latin America” looks at prevention in a new and comprehensive way. It argues that effective prevention starts before birth, and, contrary to common perceptions, well-designed policies can also be successful for adults, for at-risk individuals and for offenders.
At a time when other regions are looking inward, this event will highlight the way in which Latin America, and particularly Argentina and Pacific Alliance countries, are taking steps to better integrate with the rest of the world, to boost growth and tackle their development challenges. The Pacific Alliance is a regional integration initiative comprised by Chile, Colombia, Mexico and Peru, some of the most dynamic economies in LAC. It seeks to be a new generation agreement, with a strong outward-looking focus and a platform for common approaches to issues such as poverty reduction, competitiveness, protecting the environment and cultural promotion.