March 28, 2019 |
At first glance, Latin America and the Caribbean (LAC) would seem to have all the ingredients for economic success. Huge swaths of arable land, abundant mineral resources and an ample supply of energy would seemingly make it the envy of emerging nations.
Despite such a rich endowment, the region seems to careen from boom to bust. Between 2000 and 2014, high commodity prices fueled robust growth, peaking at 5% in the mid-2000s, according to data from the Organization for Economic Cooperation and Development (OECD). But the last couple of years have been a struggle as commodity prices fell as China slowed and higher US interest rates reduced dollar inflows from exports and investment. The reg
Latin America needs 5% economic growth over a generation to catch up to more developed countries, says the OECD's secretary general