LIMA, Peru, CMC—The Economic Commission for Latin America and the Caribbean (ECLAC) on Wednesday presented an innovative proposal for countries to consider that aims to manage the necessary transformations to move towards more productive, inclusive, and sustainable development.
ECLAC said Latin America and the Caribbean (ECLAC) needs to undertake profound transformations to overcome the development crisis in which it is immersed. This crisis occurs in an uncertain international context, posing challenges and opportunities for the region.
As a result, it has identified 11 vital transformations. It offers guidelines on how to manage them, inviting countries to converse about what to do and how to manage the necessary transformations that would make a real difference in shifting development toward more significant growth, productivity, inclusivity, and sustainability.
The RCLAC proposal will be discussed at the ECLAC’s 40th Session, which gets underway here later on Wednesday. The session will bring together representatives from 46 member states and 14 associate members.
The three-day event will discuss “Development in Latin America and the Caribbean: Vital Transformations and How to Manage Them.”
The document analyses the three development traps in which ECLAC sees the region mired: low capacity for growth, high inequality, low social mobility, and weak social cohesion.
In the document, ECLAC addresses several questions, including what Latin America and the Caribbean must do to move towards more productive, inclusive, and sustainable development and how it can manage the actions needed to achieve this.
ECLAC emphasizes the importance of moving from “what” to do to “how” to do it. In other words, it offers recommendations beyond lists of goals and aspirations, systematically addressing the challenges of governance, institutional quality, and social dialogue for implementing successful policies and transformations.
Regarding “what to do,” the report suggests 11 transformations deemed vital for moving towards more productive, inclusive, and sustainable development.
These include rapid, sustained, sustainable, and inclusive growth, with emphasis on productive development, productivity, and employment; reduced inequality and increased mobility and social cohesion; expansion of social protection and the welfare State; effective education for all; and wide access to vocational training.
It also proposes progress towards greater regional and global economic integration, sound and strong taxation, and strengthened state capacities in institutions, governance, and social dialogue.
“The task of building a new regional consensus on approaching and overcoming development challenges may be an ambitious objective, but it is necessary and desirable.
“Moving towards a more productive, inclusive, and sustainable future requires long-term vision and strategies, the real participation of all stakeholders, and a competent State and institutions with the capacity to guide, mobilize, and provide quality services,” said José Manuel Salazar-Xirinachs, ECLAC’s Executive Secretary, in the document’s foreword.
“A country’s development is a complex process that happens over the long term and is not automatic owing to market forces, which nevertheless can play a significant role with appropriate forms of governance and regulation.
“If we are to overcome traps and close gaps, if we are to realize the often-delayed dream of more productive, inclusive, and sustainable development and prevent Latin America and the Caribbean from living through more lost decades, the time to act and work together is now,” Salazar-Xirinachs adds.
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