On Tuesday, 8 April, the State Secretary for International Cooperation at the Ministry of Foreign Affairs, European Union and Cooperation, Eva Granados Galiano, inaugurated the presentation of the Latin American Economic Outlook 2024 (LEO) report, entitled "Financing Sustainable Development", at Casa de América. During the event, she advocated for promoting international partnerships that mobilise resources to drive sustainable development in Latin America and the Caribbean.
During the presentation of the report, prepared each year by the OECD Development Centre, the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), CAF Development Bank of Latin America— and the European Commission (EC), Eva Granados advocated for allocating “the necessary financing to meet the sustainable development priorities in Latin America and the Caribbean, which amounts to an average of 99 billion US dollars per year”.
The State Secretary stressed that “it is crucial to strengthen international partnerships to mobilise resources within the region. This is one of the key conclusions of the report, as well as a top priority in our cooperation efforts, particularly in a year when Spain is hosting the United Nations International Conference on Financing for Development.”
Eva Granados, who was joined at the opening session by Andrés Allamand, Ibero-American Secretary-General (SEGIB); Federico Bonaglia, Deputy Director of the OECD Development Centre; and Diana Montero Melis, Deputy Head of Latin America and Regional Programs at the European Commission, agreed with the other speakers in highlighting the importance of collaboration among Governments, the private sector, and international institutions in order to overcome the financial challenges facing Latin America.
Inclusive finance
This seventeenth edition of the LEO report highlights the urgent need to mobilise additional resources, emphasising that public funds, while crucial, are insufficient to address the profound transformations required in the region. In this regard, the document underscores the importance of strengthening the depth, inclusiveness, and efficiency of local financial systems, particularly for the benefit of citizens and small businesses, as well as developing robust capital markets to drive long-term investments.
During the event, other prominent speakers included the Director of the Spanish Agency for International Development Cooperation, Antón Leis; the Director of the Carolina Foundation, Érika Rodríguez Pinzón; and the Ambassador-at-Large for Development Financing, Mónica Colomer.
The title of the LEO 2024 aligns with the celebration—ten years after the previous one—of the Fourth United Nations International Conference on Financing for Development, set to take place in Seville from 30 June to 3 July of this year.
The Conference aims to strengthen international partnerships and promote concrete solutions, such as tax reforms, increased private sector participation, and a new international financial architecture. Spain underlines its commitment to a renewed cooperation-based approach, highlighting shared values such as gender equality and environmental sustainability, which are key drivers in accelerating the successful implementation of the 2030 Agenda.
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