Latin America and the Caribbean has seen remarkable socio-economic progress since
the beginning of the century. The macroeconomic situation of individual countries
has strengthened, living standards have improved, and poverty and inequality have
declined. Yet large structural vulnerabilities remain and new ones have emerged. Many
of these are linked to countries’ transition to higher income and development levels.
The Latin American Economic Outlook 2019: Development in Transition (LEO 2019) presents
a fresh analytical approach in the region. It assesses four development traps relating
to productivity, social vulnerability, institutions and the environment. It outlines
local opportunities for responding to those traps and seeks ways of improving global
public goods to reinforce national agendas, all in the context of the United Nations
2030 Agenda. LEO 2019 calls for improving domestic capacities and adopting a new vision
of international co-operation as a facilitator to support those efforts.