WORLD BANK URGES LATIN AMERICA, CARIBBEAN (LAC) TO RETHINK ECONOMIC STRATEGIES AMID GLOBAL UNCERTAINTIES Source: loppnews.com, News Editor, First published April 24, 2025 A new World Bank report is urging Latin American and the Caribbean (LAC) countries to rethink their economic strategies amid global uncertainties. According to the advanced chapter of the Washingtonbased financial institution’s Latin America and the Caribbean Economic Review (LACER), amid growing global economic volatility, LAC countries must adapt their economic strategies to navigate increasing uncertainties. The report forecasts growth of 2.1 percent in 2025 and 2.4 percent in 2026, making it the slowestgrowing region worldwide. The report adds that low investment, high debt, and a shifting external environment are major barriers to the region’s development. “The global economic landscape has changed dramatically, marked by higher levels of uncertainty,” said Carlos Felipe Jaramillo, Vice President for Latin America and the Caribbean at the World Bank, on Wednesday. “Countries must recalibrate their strategies and advance bold and practical reforms that boost productivity [and] competitiveness while tackling long- standing gaps in infrastructure, education, trade and governance to ensure job creation and better opportunities for businesses and citizens,” he urged. Opening Lines 7 BUSINESS VIEW CARIBBEAN VOLUME 12, ISSUE 04
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