For presentation at the Seventh Summit of the Americas
From the document:
This work is a contribution made by the Economic Commission for Latin America and the Caribbean (ECLAC) to the Seventh Summit of the Americas (Panama City 10 and 11 April 2015), at the request of the Summit Chair. It summarizes the most salient economic ties between the countries of the Americas and highlights the importance of cooperation for progress towards realizing the shared aspiration of greater well-being for all.
In 2014, world economic growth picked up slightly in a context of uneven performance among developed countries and a slowdown in emerging economies. Nonetheless, the world economy has yet to surpass the growth rates seen before the global crisis of 2008 and 2009. Whereas world output growth averaged 5.4% a year between 2004 and 2007, the rate of expansion slowed to 3.5% a year in the period from 2011 to 2014. According to International Monetary Fund (IMF) projections, global growth in 2015 and 2016 will be 3.5% and 3.7%, respectively (IMF, 2014)..
One of the region’s most significant achievements in the past few years has been the reduction of poverty, extreme poverty and inequality. The percentage of poor dropped from 43.9% in 2002 to 28.0% in 2014, meaning that about
58 million people in the region exited poverty in just over a decade. Extreme poverty also declined substantially,
from 19.3% in 2002 to 12.0% in 2014.
Regional estimates show that the downward trend in poverty and extreme poverty rates has slowed and even reversed in the early years of the present decade, a situation that, in combination with population growth, has led to a rise in the number of people living in extreme poverty.