Friends of Europe is proud to support the launch of the Latin American Economic Outlook 2018, jointly produced by the European Commission, the OECD Development Centre, the Development Bank of Latin America (CAF), and the United Nations Economic Commission for Latin America and the Caribbean (UN-ECLAC).
The report focuses on how institutions can underpin the foundations of a long period of sustained and inclusive growth and increased well-being. By identifying the macroeconomic challenges in the region, exploring opportunities for boosting growth, and analysing the link between society’s dissatisfaction with existing institutions and the long-standing structural features and current contextual dynamics shaping the economy, society and politics, the report examines options for strengthening the social contract in the region.
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Three out of four Latin Americans today show little or no confidence in their national governments. Almost four out of five citizens in the region think corruption is widespread. Social cohesion and the social contract in Latin America and the Caribbean are weakening in this context. This is why reconnecting public institutions with citizens by better responding to their demands is critical for strengthening growth and sustainable development and for supporting greater well-being. The Latin American Economic Outlook 2018 calls for rethinking institutions to support inclusive growth and to move towards more transparent, capable, credible and innovative states. It examines how the social contract can be strengthened in the region, mainly through a state that delivers and responds to citizens’ changing demands, as well as through policies and institutions that provide equal socio-economic opportunities in a rapidly changing global context.
Alicia Bárcena, Executive Secretary of the UN Economic Commission for Latin America (UN-ECLAC)
Gonzalo de Castro, Senior Executive at the Development Bank of Latin America
Christian Leffler, Deputy Secretary-General for Global Economic Issues at the European External Action Service
Stefano Manservisi, European Commission Director-General for International Cooperation and Development
Mario Pezzini, Director of the OECD Development Centre and Special Advisor to the OECD Secretary-General on Development
Dharmendra Kanani – Director of Strategy at Friends of Europe
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