ECLAC: inequality conspires against recovery in Latin America

Inequality today conspires against recovery, development, nutrition, health, education, employment, and that is why we must address it from all sides, emphasized the executive secretary of ECLAC, Alicia Barcena.

The head of the Economic Commission for Latin America and the Caribbean (ECLAC) spoke about the challenges facing the region and its economic, social and environmental situation after the crisis caused by the Covid-19 pandemic and the prospects for recovery.

In her presentation, she emphasized that growth is not enough to make things equal, because it is not possible to grow without equality, and the health crisis increased poverty, unemployment and informality with great repercussions, especially for women.

She specified that the disparity arises from productive heterogeneity, structural gaps, low innovation, poor investment and productivity, which defines it as unfair, inefficient and conspiring against sustainable development.

Barcena emphasized that this is mainly reflected in the levels of poverty and extreme poverty, which in 2020 increased for the sixth consecutive year, and in 2021, despite the recovery, had a 27-year setback with 86 million people victims of this scourge and at risk of hunger.

She recalled that in 2022, Latin America and the Caribbean will grow 2.1 percent (after recording 6.2 percent in 2021) in an international context of war conflict, lower trade, possibility of withdrawal of monetary incentives that would increase the cost of financing, and great uncertainty about the Covid-19 evolution.