Panama is hosting what organisers touted as the region's answer to Davos, as political and business leaders gather to tackle Latin America's persistent economic challenges amid growing concerns over rising poverty and middle-class stagnation.
Latin America and the Caribbean face another year of lacklustre economic performance, with growth projected at just 2.2 per cent in 2024 and 2.4 per cent in 2025, according to a report by ECLAC, which also warned of risks from potential US tariffs.
Violent crime and insecurity cost Latin America 3.4% of GDP annually, fueling a vicious cycle of low growth, emigration and instability. Breaking this requires bold reforms, stronger institutions and regional cooperation to tackle organised crime.
Trump's return to power sets up a confrontational start with Latin America, threatening tariffs and strict border controls. Mexico pushes back firmly against US pressure, while China quietly expands its regional influence challenging US dominance.
Latin America and the Caribbean are facing a "low economic growth trap" that threatens to stall progress across the region, according to a new report from the United Nations Economic Commission for Latin America and the Caribbean (ECLAC).