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Regional Agenda Council

Latin America

A. Description of the issue


Latin America has emerged relatively unscathed from the recent global economic downturn. The pace
of recovery in 2010-2011 seems robust, with an estimated 4% growth rate for the region as a whole –
higher than global growth forecasts. More importantly for the future, macroeconomic indicators
promise to be less volatile than in the past.

However, one-fourth of the region’s 600 million inhabitants still live below the poverty line with unequal
access to basic services and infrastructure. Latin American countries also face other challenges:
achieving regional cooperation and integration, quality education, energy security and sustainable use
of natural resources. Consensus in the region on the means to strengthen democracies, increase
private sector participation and reduce poverty seems to be fading.

B. Dimensions
In spite of ideological divergences, Latin America has many reasons to increase the extent of regional
cooperation, not just between states but also among government, private sector firms and civil society
organizations. Here are some of the dimensions for discussion during our next cycle:

 With newly elected governments taking office in several countries in the region and upcoming
national elections in others, attention will be focused on the degree to which democratic
institutions are able to process and satisfy social and demographic pressures. The new political
landscape could affect the region’s investment climate, the path of reform and overall regional
governance.

 Assuming that macroeconomic stability can be preserved, the region needs to invest heavily in
improving infrastructure and overall competitiveness of many of the region’s larger economies. As
it becomes more integrated globally, it should reinvigorate international trade, preventing barriers
and protectionist measures.

 The need to improve education and training has also long been seen as a key priority if Latin
America is to improve productivity and innovation to compete in more sophisticated product
markets. Reforms that improve the quality of teacher training and the role of private sector
employers should be properly evaluated.

 Tackling poverty and reducing inequality are not just matters related to improving incomes of
those at the bottom of the social ladder, but also improving the environment in which people learn,
live and work. Analysis and promotion of social safety nets based on successful regional
experiences is another important line of work.

 Encourage global cooperation on climate change initiatives promoting a green economy that
includes clean technology, sustainable energy sources and ecosystem conservation. Latin
America should assume greater leadership in this area, particularly for the upcoming Mexico
COP16 meeting at the end of 2010.

Tackling these dimensions requires government, business and community leaders to come together to
produce sound strategies and offer practical ideas and credible attitudes for advancement. We believe
there is a window of opportunity for the region to pass over past differences and inaugurate a new era
of reinforced trust and integration. The Regional Agenda Council on Latin America aims to promote
structural reforms that create a safer, cleaner and more inclusive economy.

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