Halting Latin America’s Economic Slide
Economic growth in Latin America has decelerated, living standards have stagnated, and a return to poverty is a real possibility for much of the region’s emerging middle class. To avoid this worrisome scenario, the region urgently needs to increase investment in three priority areas.
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BOGOTÁ – “Nobody’s backyard: The rise of Latin America” was the headline on the cover of The Economist on September 11, 2010. Inside was a special report that presented an optimistic view of the region’s future. And little wonder, given that high commodity prices were enabling most Latin American countries to expand social programs and significantly reduce poverty and inequality.