Growth in the region made up of Latin America and the Caribbean is a priority for the International Monetary Fund. For this reason, it has urged governments to allocate the necessary resources to face current economic, fiscal and social challenges.

On Friday, October 25, the international organization asked representatives of Latin America and the Caribbean to include in their agenda the discussion of reforms that will allow them to boost their economy.

“In its Regional Economic Outlook, the IMF projected that the region’s growth will accelerate from 2.1 percent this year to 2.5 percent in 2025. But the expansion of the so-called AL7 group, which includes Brazil, Chile, Colombia, Mexico, Paraguay, Peru and Uruguay, is projected to slow from 2.4 percent in 2024 to 2.0 percent next year.”

According to Rodrigo Valdés, director of the IMF’s Western Hemisphere Department, “the urgency of deepening reforms for growth really applies to almost all economies in the region.”

According to the IMF’s estimates of medium-term growth for the region (excluding Argentina and Venezuela), it “is projected to be around 2.5 percent annually over the next five years and will likely remain close to its low historical average. This reflects persistent and unresolved challenges, such as low investment, slow productivity growth and demographic changes.”

The IMF stressed in its report that low economic growth is marked by factors such as social discontent, entrenched populist policies, “slowdown in the expansion of the labor force due to falling birth rates and an aging population,” among others.

The absence of fiscal consolidation reforms will cause the region’s debt to continue to grow, according to the IMF, which has asked governments to increase personal income tax collection.

M.Pino

Source: jornada

(Reference image source: Alex Shuper for Unsplash+)

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Nicolás Maduro announced that he gave the order to allocate economic resources for community projects in order to strengthen the productive nature of the communes, within the framework of the National Popular Consultation.

The president of Venezuela indicated that he will continue to promote the country’s new diversified economic model with this allocation of money.

The president ordered that “the deposits be made to all communal circuits for the projects approved” in the National Popular Consultation on April 21.

Likewise, he called for “promoting the new national economic model” by deepening community consultations, “prioritizing direct democracy, deepening the construction of a new National Public Health System and the emergence of a new diversified economic model to satisfy internal needs.” from the country.”

Maduro emphasized that support must be maintained for the construction of a new health system, the recovery of hospitals, “the CDI, Barrio Adentro, with the Bricomiles.”

Regarding the promotion of a new diversified economic model, the head of state commented on the experience he lived in the state of Trujillo, where he confirmed an overproduction of agricultural products that must be placed in other markets.

M.Pino

Source: ultimasnoticias

(Reference image source: @ConMaduroMas_, X)

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The Development Bank of Latin America (CAF) has issued a five-year term bond for an amount of $ 650 million and a coupon of 2.25 %. The resources obtained by the organization will be used to support the economic and social reactivation of Latin America and the Caribbean. “We appreciate the confidence and interest of investors in CAF bonds to promote the economic and social reactivation of Latin America and the Caribbean,” said CAF Executive President Sergio Díaz-Granados.

Díaz-Granados explained that the resources raised come from international markets at competitive rates, which will allow promoting “the sustainable development of the region through the financing of strategic projects, the provision of technical cooperation and knowledge products.”

CAF applies different sources of financing

Likewise, the entity has highlighted that for more than three decades it has carried out a strategy of diversifying its sources of financing, through an uninterrupted presence in global capital markets, which has placed it in a “privileged position internationally.” This status, according to CAF, has allowed the multilateral bank to carry out the issue “in the midst of a volatile market due to the expectation of rising international interest rates.”

Fund managers, central banks, commercial banks and public institutions have led the placement orders. The agents in charge of the transaction have been BNP Paribas, Goldman Sachs, Morgan Stanley and Nomura.

Source: dpa

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