The region’s position in the world economy has been weakening

The Latin American and Caribbean region is confronting the challenges of the 2030 Agenda for Sustainable Development with a lower long-run growth rate than other regions in the developing world and with persistent external vulnerability. The region’s growth dynamic was hit by the economic shocks caused by the 1980s external debt crisis, the Mexican and Asian, Russian and Brazilian crises of the 1990s, and then the Argentine crisis, followed by the global financial crisis, in the 2000s. Worse still, it has not performed particularly well by international standards even in upturns: Its growth rate in 2003-2007, its best in three decades, was lower than that of other regions in the developing world. Furthermore, its real and financial external vulnerability remains; its countries’ predominant specialization patterns mean that they are still sensitive to terms-of-trade and external demand shocks, and some have increased their gross external liabilities and become more dependent on international capital inflows.

Sustainable Development Goals:

Reduced Inequalities

Peace, Justice and Strong Institutions