Despite economic difficulties, the region is now better prepared to face deceleration cycles, as indicated by Enrique Iglesias, former President of the Inter-American Development Bank (IDB), Enrique Garcia, executive president of CAF Development Bank of Latin America -, who also noted the importance of multilateral institutions and integration as key vehicles to meet the challenges of the new socio-economic context in Latin America.
«We are at a difficult time in the world, not only in Latin America, but we found much better than we were at similar times. There is great sacrifices but to order the right things to pass this dry season, and what we did in education, technology and other areas, do it now, «said Iglesias, who is also former head of the Iberoamerican General Secretariat ( SEGIB) and former executive secretary of the Economic Commission for Latin America (CEPAL).
In that sense, the president of CAF, Enrique García, highlighted the important role that have multilateral lending agencies in the region. «Latin America has been an example of the financial multilateralism. Important institutions have been a mainstay in their economic and social development, «he said.
However, Garcia said that no institution has the capacity to meet all the needs of the region so that «the challenge is to seek convergence initiatives.» «To the extent that clear objectives and common interests are taken it is possible to operate schemes which bring together different ideologies,» he said.
The need for regional integration was a point of convergence. Iglesias noted that private companies are taking the lead in terms of real integration.
Ernesto Chong de León, Ernesto Emilio Chong Coronado
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