World Economic Forum on Latin America

As the poster democracy for Latin America's remarkable turnaround, Colombia was the perfect vantage point for participants to take stock of how the region had weathered the global economic crisis and to focus not just on the broad strokes of a strategy for sustaining economic recovery but on exactly how to do it. The crisis, as well as other recent stresses from high food and energy prices and the devastating earthquakes in Haiti and Chile, has brought home to Latin American leaders and citizens the lesson that closer collaboration and deeper integration are the best ways to ensure stability in today's volatile and unpredictable global economy. At this critical juncture, the majority of Latin American countries are taking the transformational path and forging "new partnerships for sustainable recovery", the theme of this year's World Economic Forum on Latin America. Over three days of interactive discussions in sessions, lunches and dinners and a rousing concert of Latin music to promote social change, participants came away with a sense that, despite Latin America's good fortune to have managed well through the crisis, this is not a time for complacency but a time to look forward and implement solutions to the pressing challenges the region faces. "Ten years ago, we couldn't have held a meeting like this, mainly because of the security situation." Jorge Londoño Saldarriaga President and Chief Executive Officer, Bancolombia, Colombia; Co-Chair of the 2010 World Economic Forum on Latin America The 2010 World Economic Forum on Latin America was organized under five subthemes: Demography, Democracy and Governance; Leading the Green Economy; New Opportunities for Cooperation; Paths towards Economic Recovery; and Reducing Inequality in Latin America. Following is a summary of some of the proposals that emerged from the sessions. Demography, Democracy and Governance • Law and order - Security should be regarded as a fundamental democratic value, without which investment and economic growth are impossible. Crime and terrorism are not solely rooted in poverty, but must be addressed through social and economic programmes and not just brute force. • Democratic governance - Pragmatic policies that deliver tangible results will bolster democratic institutions and the faith of citizens in their leaders. • Regional governance - The region may be better off pursuing limited or focused mechanisms for regional cooperation, such as an emergency fund for humanitarian relief instead of ambitious programmes that are likely to fail or difficult to achieve.download