After a “lost decade” that saw economies stagnate across Latin America and the Caribbean, a new optimism appears to take hold in some areas. 2023 will be the third consecutive year the IMF and other multilateral institutions have raised their growth forecasts for the region after they proved too pessimistic. Foreign direct investment soared 55% last year to $224 billion, its highest value on record. But the region’s growth rate remains below its potential, trailing other emerging markets in Africa and East Asia. In this episode, former Colombian finance minister Mauricio Cárdenas joins us with an overview of where the potential for growth lies and the obstacles to achieving that.
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Mauricio Cárdenas is professor at Columbia University and former finance minister of Colombia (2012-2018).
Brian Winter is the editor-in-chief of Americas Quarterly.
Suggested reading:
A (Relatively) Bullish Case for Latin America by Brian Winter
AQ Podcast: A Turning Point for Latin America’s Economies
AQ Podcast | Nearshoring In The Americas: Hype And Reality
AQ Podcast: Latin America’s Green Energy Opportunities
