New research shows that rising violence in Latin America and the Caribbean comes with a high price tag: 3.4% of GDP, or $192 billion, is lost every year to crime-related costs. To tackle this crisis, the region’s governments must work together to strengthen public institutions and implement evidenced-based anti-crime policies.
WASHINGTON, DC – Violent crime in Latin America and the Caribbean (LAC) has for decades taken a steep toll on lives and livelihoods. Outside of areas impacted by wars, the region is the world’s most violent, leading in murder rates, armed robberies, and other violent crimes. But the economic consequences are equally devastating. Understanding how crime acts as a tax on development – one that the region can no longer afford to pay – could help LAC governments devise their policy responses.
WASHINGTON, DC – Violent crime in Latin America and the Caribbean (LAC) has for decades taken a steep toll on lives and livelihoods. Outside of areas impacted by wars, the region is the world’s most violent, leading in murder rates, armed robberies, and other violent crimes. But the economic consequences are equally devastating. Understanding how crime acts as a tax on development – one that the region can no longer afford to pay – could help LAC governments devise their policy responses.