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Prospects Daily: Global equities decline after US budget talks stall and US consumer confidence falls

Global Macroeconomics Team's picture

The Prospects Daily will be on Winter recess and will resume on

Wednesday January 2nd, 2013.

Vocational Training for Vulnerable Youth in Colombia

Jessica Owens's picture

With youth unemployment extremely high in Latin America, numerous government efforts have been under way to help the poorest individuals. In Colombia, the "Jóvenes en Acción" or "Youth in Action" program was introduced in the mid-2000s to provide job training to about 4,300 unemployed youth (ages 18-25) who lived in urban areas and fell into the two lowest deciles of the income distribution. Jessica Owens, a consultant with Colombia's Ministry of Labor, says that evaluations show that women fared the best under the program.

Latin America 4 degrees warmer? Not cool!

Erick Fernandes's picture

También disponible en español y portugués

So you may be wondering if those scenes from the movie 2012 are not too much of a stretch after all, huh?

In the Hollywood blockbuster, apocalyptic images of rising oceans, erupting volcanoes and crumbling cities prelude the end of the world as we know it. Well, let me tell you that even though I’m not a great fan of end-of-days films –I think they oversimplify issues and de-sensitize the public-- I do believe that the world as we know it is on a path to dangerous climate change

It’s Jobs, Stupid!

Otaviano Canuto's picture

The World Bank has been tracking the world's progress against poverty since the late eighties, but the release of 2008 data was the first time in which all regions of the developing world showed a decline in the number of people living below poverty lines!

Growing the middle class

Francisco Ferreira's picture

También disponible en español

Shoppers in Chile

Since the Great Recession of 2008, there has been a widespread sense of malaise among the American middle class. Their incomes are close to stagnant, employment has not recovered, and the gap between them and the famously rich top 1% continues to grow. Look south of the Rio Grande, though, and it is quite a different picture. In the last decade, moderate poverty (under U$ 4 a day) in Latin America and the Caribbean fell from over 40% to 28%.

Fresh efforts to improve water access in Latin America

Ede Ijjasz-Vasquez's picture

También disponible en español

Water is vital, not only for people but also for green policies in Latin America and the Caribbean. Managing it not only includes preventing fatalities due to natural disasters or climate change adaptation but also providing the most vulnerable people with access to drinking water.

This is why one of the most important “green¨challenges the region faces is to create an efficient, practical and accessible water supply for all. In this video blog, Ede Ijjasz-Vasquez, World Bank Sector Director for Sustainable Development for Latin America and the Caribbean, explains Mexico´s achievements and successes in this area. 


Weekly Wire: the Global Forum

Kalliope Kokolis's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

Transparency International
Hacking against corruption

“30 people, some of them friends, some others strangers, put together their skills in one place for one cause: beating corruption while having fun programming, coding, testing and, when things did not work out, starting all over again. The goal was making one good idea  become reality by the end of 24 hours.

In Bogotá, Colombia, hackers and developers were full of energy when they arrived at Academia Wayra at 5PM where the ‘Hacks Against Corruption’ hackathon took place the Saturday before last.

Their commitment was really amazing! They literally did not stop working for 24 hours.”  READ MORE

Cost-Effective Conservation

Rachel Kyte's picture

También disponible en español

The success of the Amazon Region Protected Areas Program (ARPA) drew a crowd here in Hyderabad at the UN Convention on Biological Diversity meeting. This effort by the government of Brazil – supported by the World Bank, the Global Environment Facility, WWF, and the German Development Bank (KfW) – is protecting almost 60 million hectares of rainforest, an area roughly the size of France and Belgium combined.

Speakers from the governments of Brazil and Germany, as well as from the GEF and foundations, all agreed that ARPA’s results are impressive: Between 2004 and 2006, ARPA accounted for 37 percent of Brazil’s substantial decrease in deforestation, and the program’s first 13 new protected areas will save more than 430 million tons of CO2 emissions through 2050.

Is there a silver lining in natural disasters? The answer is ‘yes’

Fernando Ramírez's picture

También disponible en español 

The earthquake in Costa Rica caused serious damage, including to major national utilities such as the water network. More than 1.3 million people in San Jose depend on this system for their daily water supply. The good news though, is that the supply of this vital resource is secure, thereby saving lives and inconvenience.

Although fictional, imagine receiving this piece of good news in the midst of a disaster, as described above.

What’s more. If you are an engineer like I am, imagine the Costa Rican Institute of Aqueducts and Sewers (s) (AyA or government water agency) reported that, while more than 15% of its infrastructure had been damaged extensively by this hypothetical earthquake, vital components such as water towers and pumping stations hadn’t been compromised.


Is the school day too short in Latin America?

Peter Holland's picture

Also available in Español, Portuguese

Do longer classroom hours equal good grades? Spending more time in school is a subject currently being discussed as one solution to improving students' academic performance with the ultimate goal of making countries more competitive in the global economy.

This is true for emerging and advanced economies alike.