Latin American Economic Outlook 2023
Investing in Sustainable Development
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Latin America and the Caribbean needs an ambitious and comprehensive investment agenda to embark on a stronger and more sustainable development trajectory. The 16th edition of the Latin American Economic Outlook proposes ways to make this possible through co-ordinated actions by policy makers, the private sector and international partners. It argues that to close existing investment gaps and overcome the region’s structural challenges, it is essential to scale up domestic and foreign investment. These investments should be a catalyst for better quality jobs and an upgraded production structure, harnessing the potential of LAC’s endowments and of the green and digital transitions. Better governance and information are key to promoting effective and efficient public and private investments. Public institutions are fundamental to aligning investments with national development strategies while building stronger social contracts. The report presents a series of options for financing this new investment agenda, including innovative debt instruments and a renewed role for development finance institutions. The report also highlights the importance of reinvigorated international partnerships across the investment agenda.
Also available in: Spanish
International partnerships for more and better investments
Countries in Latin America and the Caribbean (LAC) must forge stronger, modernised and strategic alliances to attract investments that drive the region’s production transformation. New tools in development co-operation, such as blended finance, present an opportunity for LAC to mobilise greater investments through private-sector engagement. To attract investments with the potential to transform the region’s economic and productive structures, it is key to maximise the potential of international investment treaties, foster an environment for sustainable finance, provide capacity building and technology transfer, establish co-ordination platforms, and promote linkages to support local and national development. Strengthening international partnerships that stimulate co-operation, investment promotion and policy dialogue will boost LAC’s production transformation goals and have positive social impacts. Regional integration is an important step for reaching sustainable production transformation through more and more strategic investment. Finally, maximising the EU-LAC Global Gateway Investment Agenda can promote investments that drive the transformation of LAC’s development model.
Also available in: Spanish