Latin America

Latin America consists essentially of middle-income economies1 with very high (Argentina, Chile, Uruguay and Venezuela), high or medium levels of development. Chile has the highest GDP per capita and Honduras the lowest. Within countries, inequality is among the highest in the world, even though there has been some improvement in the past decade. According to the United Nations Economic Commission for Latin America (ECLAC), the four countries with the lowest levels of poverty are, Honduras, Brazil, Dominican Republic and Colombia (on Brazil, see Chapter 8).

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