Financing for Development in Latin America and the Caribbean

Financing for Development in Latin America and the Caribbean

Financing for Development in Latin America and the Caribbean

Financing for Development in Latin America and the Caribbean

Synopsis

This publication considers the regional perspectives of financing for development through an analysis of the investment patterns and capital flows to the Latin America and Caribbean region; the role of regional development financial institutions in making capital flows more efficient and equitable; the strengthening of existing mechanisms for the prevention and management of crisis; the impact of external indebtedness on economic and social development; the trends and perspectives of intraregional and interregional foreign investment, and the private sector capital flows from investment banks.

Excerpt

On behalf of the Rio Group, I am pleased to present the results of this final project on financing for development whose successful completion owes much to the support received from the Andean Development Corporation. We are confident that this book will make a significant contribution to global understanding of a subject that is of vital importance to the Rio Group and to each of its members.

The framework for this project has been the convening by the General Assembly of the United Nations of an International Conference on Financing for Development in 2002 in Mexico, which has kindly offered to host this very important event. I would therefore like to use this introductory chapter to highlight some of the issues which the contributors to this book have examined in greater depth and on which the Rio Group has on various occasions stated its views.

Reform of the international financial system and financing for development have been a thematic priority for the Rio Group this past decade, which has witnessed the unfolding of an international financial crisis of major proportions. a number of Latin American countries were affected by the ensuing economic difficulties, necessitating the elaboration of common political positions in order to facilitate a collective articulation of objectives.

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