Latin American Economic Outlook 2019

Development in Transition

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Latin America and the Caribbean has seen a remarkable socio-economic progress since the beginning of the century. Countries strengthened their macroeconomic situations, living standards improved, and poverty and inequality declined. Yet, large structural vulnerabilities remain and new ones have emerged. Many of these are linked to countries’ transition to higher income and development levels. The Latin American Economic Outlook 2019: Development in Transition (LEO 2019) presents a fresh analytical approach to the region’s development trajectories. It assesses four development traps relating to productivity, social vulnerability, institutions and the environment. It outlines local opportunities for responding to these traps and seeks ways of improving the interactions and interlinkages between global public goods and national development agendas, all in the context of the United Nations 2030 Agenda. LEO 2019 calls for improving domestic capacities and adopting a new vision of international co-operation as a facilitator to support efforts to achieve sustainable development for all throughout the region.

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Paraguay has made progress in some development indicators in the last decades. The net secondary enrolment rate remains below the 74.4% average of Latin America and the Caribbean (LAC) at 64.9%. However, the country has improved its infant mortality rate (18 per 1 000 live births) and life expectancy at birth (73.1 years). Moreover, the share of the population living on less than USD 5.5 a day (2011 PPP) decreased from 35% to 20.1% between 2005-16. The share of the vulnerable population – those living on USD 5.5-13 a day (2011 PPP) – has remained stable, at around 39.3%, over the same period.

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