SANTIAGO, Chile, CMC – Delegates attending the CAF-ECLAC Annual Convention 2024 on the headquarters of the Financial Fee for Latin America and the Caribbean (ECLAC) in Santiago, Chile, have known as for scaling up and bettering productive growth insurance policies in Latin America and the Caribbean.
“To realize a extra productive, inclusive, and sustainable growth sample, it’s urgently essential to scale up and enhance productive growth insurance policies,” ECLAC stated. “This goes to the guts of the event fashions within the area and is crucial to their transformation.”
ECLAC stated the high-level occasion, entitled “The problem of scaling up and bettering productive growth insurance policies in Latin America and the Caribbean,” brings collectively Financial system, Commerce, and Business Ministers, Deputy Ministers, senior executives, and regional and multilateral organizations specialists.
ECLAC stated the convention displays on and addresses “in-depth the weather that will allow transferring ahead on designing and implementing a regional agenda for productive growth insurance policies to information nationwide and subnational governments, academia, personal actors and different members of civil society within the area in finishing up joint actions for sustainable and inclusive productive growth.”
José Manuel Salazar-Xirinachs, ECLAC’s govt secretary, and Sergio Díaz-Granados, the manager president of CAF-Growth Financial institution of Latin America and the Caribbean, inaugurated the assembly.
It Fe featured a panel of authorities on productive growth insurance policies in Latin America and the Caribbean that included the participation of Nicolás Grau, Minister of Financial system, Growth and Tourism of Chile; José Antonio Ocampo, professor at Columbia College’s College of Worldwide and Public Affairs and former Minister of Finance of Colombia; Soraya Caro, deputy minister of enterprise growth of Colombia; and Gonzalo Rivas, head of the competitiveness, Expertise and Innovation Division on the Inter-American Growth Financial institution (IDB).
In his welcome remarks, Salazar-Xirinachs recalled that “the foundation of the issue is that the area has been immersed in a low-growth syndrome or lure for the final decade.”
He pressured that “progress per se just isn’t every part for the reason that intention is to have inclusive progress, which would scale back poverty and labor informality, create good jobs, and create an setting extra conducive to lowering inequality. It will even be inexperienced and sustainable progress that’s pleasant to nature and the planet.
“If the area invests sufficient within the transition to renewable energies, electromobility, the round economic system, to extra dynamic sectors that drive progress, such because the care society (amongst others), and strikes in direction of these transformations, the end result will essentially be increased and extra sustained progress that’s extra diversified and extra technologically subtle. And that’s what productive growth insurance policies are about,” Salazar-Xirinachs stated. “It’s about inducing dynamism and transformation within the economic system and society.
“As a result of in productive growth insurance policies lie the toolbox for steering progress in sure instructions and in direction of increased and extra sustained charges, which suggests orienting financial transformation processes in direction of extra inclusive and sustainable growth patterns,” he added. “We at ECLAC have been saying that it’ll not be sufficient to insist that our international locations and their territories scale up and enhance their productive growth insurance policies.
“Delving deeper into the ‘whats’ and the ‘hows’ behind this premise shall be key,” Salazar-Xirinachs continued. That’s the reason we perceive the house that we’re organizing right now as a brand new alternative for these reflections and as a time to advertise renewed collaboration, not simply between CAF and ECLAC on productive growth insurance policies but additionally between private and non-private actors within the area.”
Díaz-Granados stated that “the area continues to be caught in low productiveness that limits its progress and, subsequently, the potential of reaching the objectives of overcoming poverty, of larger equality and, finally, of larger well-being for our residents.
“That’s the reason we worth the relevance of this type of debate the place our dedication is targeted on pouring all our efforts into supporting the transition that the area wants, backing this problem of transferring in direction of sustainable growth,” he stated.
Within the first session on productive growth insurance policies within the area, ECLAC stated the ministers, deputy ministers, and authorities current pressured the significance of constructing progress on points equivalent to institutional capacities, technological growth, financing, productive linkages, assist for small producers and tax incentives “to reverse the stagnation in productiveness seen within the majority of the area’s international locations and to have the ability to articulate productive growth insurance policies that, in the long run, would permit for bettering all folks’s well-being, which is their final purpose.”
ECLAC stated the CAF-ECLAC Annual Convention continued with 4 periods on points such because the function of growth banking in productive growth agendas, productive growth insurance policies with a territorial method and cluster initiatives, closing human expertise gaps for productive growth, and alternatives for collaboration between governments, the personal sector, growth banks, and different related actors to scale up and enhance productive growth insurance policies within the area.
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