World Bank urges Latin America and the Caribbean to save for hard times

Saving as a tool to face possible economic situations is the solution for the peoples of Latin America and the Caribbean. It is the opinion of the Vice President of the World Bank (WB) for both regions, Jorge Familiar.

The expert, originally from Mexico, bases his recommendations on recent experiences that have affected the economic growth of nations in Latin America and the Caribbean.

The official has indicated that governments should focus on the main challenges they still face, such as the reduction of poverty and inequalities among populations, as well as the creation of employment, the equitable distribution of food; guarantee safety and education, among others.

Undoubtedly, in the coming years Latin America and the Caribbean will require adjustments in their economic systems to cope with financial problems, protect the most vulnerable and develop policies that allow them to improve their positioning in emerging markets.

The Vice President of the World Bank said that “countries have to ensure the business climate and the conditions necessary for the private sector to flourish, because despite the efforts made there is still a pending agenda that involves strengthening the legal framework, improve labor legislation and enhance human capital with a high quality education”.

According to Familiar, there is still a way to go and measures to be applied for the nations of both regions, such as the ability to reach agreements that bring benefits to all those involved. Politics has undoubtedly hindered the advancement of the global economy. Hence the need for dialogue and the willingness of leaders to promote the development and well-being of citizens.

M.Pino

Source: BancayNegocios

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