Panama hosts economic forum on Latin America and the Caribbean

Panama will host the first Latin American and Caribbean Economic Forum over the next two days, attended by thousands of regional leaders who will discuss the way to the growth path.    

Speakers from 15 countries will participate in the Forum, including government authorities from the region and the president of Paraguay Santiago Peña, who arrived in Panama on Tuesday. Also appearing will be the vice president of the World Bank for Latin America and the Caribbean, Carlos Felipe Jaramillo; the Ibero-American Secretary General, Andrés Allamand; and the executive secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), José Manuel Salazar-Xirinachs, among others.

The main theme will address the economic stagnation and the region’s competitive advantages. Priority topics will also be dealt with, such as the economic 2025 situation and its challenges, the region’s opportunities, the role of air, port, and logistics connectivity in the green and digital transition, and the potential of renewable energies.

According to the President of the Development Bank of Latin America and the Caribbean (CAF), Sergio Díaz-Granados, the main sponsor of the event, attendees will discuss low investment, inequality, and the effects of climate change, as well as the key role of the private sector in promoting sustainable development and innovation.

As stated by Díaz Granados, Latin America and the Caribbean face enormous challenges, but also have extraordinary potential to lead in key areas such as the energy transition, food security, creative economies, and climate action.

For several analysts, the region faces significant vulnerabilities, such as low economic growth (1.6 percent average annually since 2010), high inequality, insecurity, and the adverse effects of international conflicts and global crises such as debt and climate change. However, there are opportunities in sectors such as responsible mining, renewable energy, agribusiness, the creative economy, and sustainable tourism, which can become development key drivers if managed strategically and sustainably.