The pandemic hit Latin America and the Caribbean (LAC) at a time when the region already faced deep structural challenges.
The COVID-19 crisis posed new challenges to the structural development traps of low productivity, social vulnerability, institutional weaknesses and environmental sustainability exacerbate the socio-economic consequences of the crisis and reduce the counties’ ability to design and implement medium and long-term responses. The COVID-19 crisis underscored the need to adopt a multi-dimensional approach to development to overcome the interlinked challenges posed by the development traps. Moreover, the pandemic has shed light on the pressing need to redefine national policies by building consensus across citizens, regional integration and international cooperation, as part of the region’s economic and social recovery that includes all countries regardless of their development level, on equal footing.
In this context, the recovery must be seen as an opportunity to transform the development strategy of the region, thanks to a renewed social contract, with inclusiveness, resilience and sustainability at the core of the region’s future development model. The recovery is also an opportunity to rethink regional integration schemes and the role and potential of international cooperation. The international cooperation will remain essential in bringing together the expertise, resources and value from multiple actors, but its upgrade becomes necessary so that it can structurally strengthen the region’s response to the pandemic.
This event aims to bring together high-level authorities and experts from international organization and LAC countries to identify and analyze the key foundations for a sustainable and inclusive recovery in the region and provide tailored recommendations to new cooperation instruments for building forward better.