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Poverty

Colombia’s time has come

Gerardo Corrochano's picture
Also available in: Español

(istock/Daniel Ernst)

In 2016, Colombia has the opportunity to make history. After more than three years of negotiations, the country is very close to achieving an “Agreement to terminate the conflict and build stable, lasting peace,” which will put an end to the internal armed and social conflict which has lasted for over 50 years, the longest in Latin America.
 

Lima, from Gastronomic Center to Capital of Urban Transformation

Eric Dickson's picture
Also available in: Español

Vista de la costa de Lima

‘Oh you’re going to Lima? I’ve heard the food is supposed to be amazing’. So goes the typical comment I get from friends and family when I would mention my work related travel plans. And in this sense the city does indeed live up to what is now internationally recognized. In my short amount of time in Lima I discovered it has a gorgeous historic downtown area, a stunning coastline peppered with manicured parks in the upscale parts of town, and a largely flat topography coupled with a near complete lack of rain.

Argentina’s challenge: getting rich before getting old

Ignacio Apella's picture
Also available in: Español



Probably, Mafalda - an Argentinean comic book character - was right when she said that "the urgent things do not leave time for the important things". However, it is necessary that, in this context, we must stop and think what should be done and what is important.

Argentina is going through a demographic transition process, which implies opportunities and challenges in economics and social fields. That is the actual case of Argentina, as well as the rest of Latin America.
 

Voix d'Haïti

Isabelle Schaefer's picture
Also available in: English | Español
Cinq ans après le séisme dévastateur qui a frappé la capitale d'Haïti et les villes voisines le 12 Janvier 2010, tuant près de 230 000 personnes, le pays continue à se reconstruire et le peuple haïtien montre des signes de résilience malgré l'incertitude politique actuelle. Presque tout le monde a une histoire à raconter.

« Peu importe à qui vous parlez en Haïti -le médecin de village, le petit entrepreneur à Port-au-Prince, le jeune étudiant universitaire - leur souhait est d'aller de l’avant, "a déclaré l’Envoyée spéciale de la Banque mondiale pour Haïti, Mary Barton –Dock.

Voices of Haiti

Isabelle Schaefer's picture
Also available in: Français | Español
Five years after a devastating earthquake hit Haiti’s capital and nearby towns on January 12, 2010, killing up to 230,000 people, the country continues to rebuild and the Haitian people show signs of resilience despite the current political uncertainty. Almost everyone has a story to tell.
 

Building on Central America’s Strengths



Soon will be January 1, 2015. Most of us will make New Year’s resolutions and most of us will fail to keep them. Keeping New Year’s resolutions is hard. But it turns out that we are much more likely to make good on our resolutions if we decide to build upon our strengths rather than focus on fixing what’s wrong. This insight is all the more important if we combine it with the intriguing view that it is the depth of our strengths, not the absence of weaknesses, which makes us successful. People are successful not because they are perfect but because they have deep strengths. What if this was also the case for countries?

With this in mind I turn my attention to some of the strengths of El Salvador, Guatemala, and Honduras, three countries that have recently put together their Plan of the Alliance for Prosperity in the Northern Triangle.” The Plan is in part a response to the well-known security challenges facing those countries and the challenges posed by the surge in unaccompanied migrant children but it is also an opportunity to focus on the strengths of the Northern Triangle of Central America and how to develop them even further. And when one goes beyond the headlines one discovers a variety of success stories.

In Latin America, Hard Hats and Tools are no longer only for Men

Maria Margarita Nunez's picture
Also available in: Español

Women that have joined road maintenance has increased significantly.

While driving around rural areas of Puno in Peru, Caaguazú in Paraguay or Granada in Nicaragua, do not be surprised to see women lifting rocks from the roads and using shovels and picks alongside men.  In fact, in the past 15 years, the number of women that have joined organizations in charge of routine road maintenance in Latin America has increased significantly and with this their life conditions have improved dramatically.

Will more debt hinder the development of the Dominican Republic?

Also available in: Español

Co-Authors: Aleksandra Iwulska, Javier Eduardo Báez and Alan Fuchs

In April this year the Dominican Republic borrowed 1.25 billion US dollars on international markets in 30-year bonds. The DR is the only country in the B investment rating group that  successfully issued 30-year bonds in the last 6 years. The country has a total of 2.75 billion US dollars for three issuances in the past 15 months.

At the same time, debt levels have been growing in the country: non-financial sector public (NFPS) debt doubled from 18.3 percent of GDP in 2007 to 36.6 in the first quarter of 2014.When considering the DR Central Bank debt stock, levels would be already close to 47 percent of GDP. It is worth noticing that Jiménez and Ovalle (2011) estimated in 56.7% the debt to GDP the maximum debt to GDP threshold that investors would consider sustainable for the DR in 2013.  Meanwhile, interest payments reached a peak of 2.4 percent of GDP in 2012-13 and external debt stood at 25 percent of GDP in 2013, levels not seen since the economic crisis of 2003. But the economic realities in the DR now are much different than they were in 2003. GDP grew by 4.1 percent last year and 5.5 percent in the first quarter of 2014. The Central Bank forecasts the annual economic growth at 4.5 percent this year. Meanwhile, central government fiscal deficit dwindled from 6.6 percent of GDP in 2012 to 2.9 percent in 2013.

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