Political Risk Latin America Blog @PolRiskLatam

Latam has “unprecedented opportunity” to double GDP in next 14 years

Posted in News and Articles, Political Risk by politicalrisklatam on May 30, 2011

by Merco Press News, May 28th, 2011.

The nations of Latin America and the Caribbean have an unprecedented opportunity to attain human development standards comparable to the industrialized world by 2025, Inter-American Development Bank President Luis Alberto Moreno said on Friday.

Speaking at the launch of his new book, “The decade of Latin America and the Caribbean: a real opportunity”, Moreno said that if the region sustains its current average growth rate, it could double its GDP within 14 years. The region’s average per capita income would also double shortly thereafter.

“Were we to achieve this, poverty in our region would drop from 32% to a little more than 10% of the population,” Moreno said. The middle class would expand to more than 500 million people, or 75% of the region’s total population. “This would allow us to close, at last, the terrible income gap that still persists in our societies,” Moreno added.

Moreno said that this target was “ambitious, but attainable” thanks to the convergence of two broad trends: Latin America’s significant progress over the last 20 years, and the accelerating shift toward “South-South” trade between emerging economies.(continue reading… )


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