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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Overview: Development in transition in Latin America and the Caribbean: A new approach for inclusive and sustainable development in the region

The Latin American Economic Outlook 2019 (LEO 2019) presents a new approach to support Latin America and the Caribbean’s (LAC) transition to inclusive and sustainable development called “Development in Transition” (DiT). This represents an opportunity to advance towards the goals of the 2030 Agenda for Sustainable Development (Agenda 2030) by rethinking the concept of development, the strategies countries should pursue and the role of international co-operation in facilitating these efforts. In the face of significantly evolving domestic and global contexts, DiT calls for improving domestic capacities and adopting more innovative modalities of international co-operation for development. In so doing, it could support both national development objectives and international efforts to advance regional and global public goods.

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