Latin America is aging rapidly. It took nearly a century for the population of those 60 years of age and older to double in most high-income countries. Yet, most Latin American countries will undergo this process in less than 20 years; countries in the region are thus “getting old before getting rich”. These nations will reach a high proportion of older people (a quarter by 2050) before consolidating high-income status and likely without having comprehensive pension programs.
Labor and Social Protection
Fears abound that automation and other advanced technologies will lead to job losses for lower-skilled workers in emerging economies and exacerbate inequality. Each new wave of technological progress is met with dire predictions. The most critic argue that the unprecedented pace of technological change today will have more dramatic effects on the future of work as new technologies (including robots and artificial intelligence) are increasingly replacing more educated workers and more cognitive and analytical work. At the same time, many economists argue that technology adoption will significantly increase firm productivity and result in job expansion, at least in the medium run under certain policy conditions. The impacts of technology adoption on overall employment and on the skills composition of occupations are ultimately an empirical question.
Photo: Sergio Amaral/MDS
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.
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.
Antigua may mean old in Spanish, but what has been accomplished here looks quite modern.
In this colonial city, a living example of Guatemala’s Mayan heritage, surrounded by mountains and volcanoes, foreign ministers from across the Americas have achieved what appeared if not impossible, very difficult: to create a space for inter-American dialogue to build a new continent-wide strategy in the fight against drug trafficking.
Just as Tamires, Brazil wishes to score a dream goal – and it has got nothing to do with the upcoming World Cup. The country seeks to enroll 1 million people in the National Programme for Vocational Education and Employment (Pronatec, its acronym in Portuguese) until the end of 2014.
My work with small-hold cocoa farmers in Nicaragua has taught me that it is not true that organic production is more expensive, complicated to learn and unsustainable.
The Sustainable Agroforestry Cocoa Production Project (COCOA-RAAN) was implemented within the Autonomous Region of the North Atlantic, the largest in Nicaragua, with a budget of just US$ 1.9 million.
Trois ans après le tremblement de terre, Haïti a progressé dans des domaines de développement clés, y compris l'éducation, l'économie et la gestion des risques liés aux catastrophes naturelles. Dans ce video blog, le vice-président régional Hasan Tuluy partage ses cinq voeux principaux pour Haïti en 2013.
Three years after the earthquake, Haiti has made gains in key development areas including education, the economic environment and managing the risk of natural hazards. In this video blog, World Bank regional Vice President Hasan Tuluy shares his top five wishes for Haiti in 2013.