The United Nations Economic Commission for Latin America and the Caribbean (ECLAC) has warned that Latin America and the Caribbean must urgently step up resource mobilization for development or face another ‘lost decade’.
With global GDP growth expected to slow down from 3.3 percent in 2024 to around 3 percent in 2025—the lowest rate in the years following the coronavirus disease (COVID-19) pandemic—ECLAC has projected modest growth for the region of just 2.2 percent in 2025 and 2.3 percent in 2026.
