Latin America must embark on a path of sustainable economic growth with increasing social equality to consolidate the progress it has made, head of the Economic Commission for Latin America and the Caribbean (ECLAC) said here Wednesday. The region is now at a crossroad where it must decide which direction to take, the daily La Tercera quoted Alicia Barcena, executive secretary of the UN agency, as saying. Latin America is on an "unsustainable path of insufficient economic growth with high levels of inequality and little push towards structural social change," warned Barcena. While the region "has enjoyed an auspicious decade," today it faces growing challenges, Barcena said. She acknowledged that over the past 10 years or so, poverty and extreme poverty in Latin American countries have fallen. "However, in our region, the poorest one-fifth (of households) earn on average 5 percent of total income, while the wealthiest one-fifth earn 47 percent." "Equality must be ... the final objective of development, just as we propose in our document 'The time for equality'" presented in 2010, Barcena said. To place countries on the path towards balanced economic growth "requires a new equation between the state, the market and society," and changes that will not be easy, but neither can be postponed, the ECLAC chief said. The goal is to achieve a more equitable world in which "exercising our rights and building our life projects" are not dictated by circumstances of birth, age, gender or ethnicity, Barcena added.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor