Shared Prosperity and Poverty Eradication in Latin America and the Caribbean

Produced by: 
The World Bank
Available from: 
April 2015
Paper author(s): 
Louise Cord (World Bank)
Maria Eugenia Genoni (World Bank)
Carlos Rodriguez Castelan (World Bank)
Topic: 
Macroeconomics - Economic growth - Monetary Policy
Poverty - Inequality - Aid Effectiveness
Year: 
2015

Over the last decade Latin America and the Caribbean region has achieved important progress towards the World Bank Group's goals of eradicating extreme poverty and boosting income growth of the bottom 40 percent, propelled by remarkable economic growth and falling income inequality. Despite this impressive performance, social progress has not been uniform over this period, and certain countries, subregions and even socioeconomic groups participated less in the growth process. As of today, more than 75 million people still live in extreme poverty in the region (using $2.50/day/capita), half of them in Brazil and Mexico, and extreme poverty rates top 40 percent in Guatemala and reach nearly 60 percent in Haiti. This means that extreme poverty is still an important issue in both low- and middle-income countries in the region. As growth wanes and progress in reducing the still high levels of inequality in the region slows, it will be more important than ever for governments to focus policies on inclusive growth.

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