Minhacienda asked for consensus to get out of the crisis on several fronts

Latin America and the Caribbean can offset the impacts of the war in Eastern Europe on commodities, such as gas, wheat and metals. This was stated by Mauricio Claver-Carone, president of the Inter-American Development Bank (IDB), which is holding the group’s General Assembly between today and this Tuesday.

(‘Latin America is key to facilitating the flow of raw materials’: IDB).

“Not only must we work together to mitigate the effects in the region, but I believe that this hemisphere can play an important role in offsetting the impacts of commodities for the entire world”said Claver-Carone, who also condemned Russia’s military action against Ukraine.

The senior manager pointed out that the IDB “is ready to be a greater partner, a stronger ally and an innovative institution based on solutions”. In that sense, he added that it seeks to be “a more flexible, innovative and solution-based bank” what “It can help create sustainable and inclusive growth with social investments, jobs, green economies and unlocking the private sector.”

“We need an improved value proposition for the IDB in this new reality”, pointed.

Continuing with this idea, Claver-Carone indicated that the IDB’s new value proposition is based on three objectives. The first, the basis of transparency, with greater fiscal support and social advances to achieve greater inclusion. It is followed by the creation of an enabling environment for the private sector and foreign investment, which would bring more employment and growth, and finally, the creation of capacities for climate action with innovation.

(‘Colombia has opportunities to take advantage of the war’: IDB).

Minutes before, the Colombian Minister of Finance, José Manuel Restrepo, handed over the pro tempore presidency of the governors’ meeting to his Jamaican counterpart, Nigel Clark, and at the end of his speech he called for the necessary consensus to come out of the pandemic crisis and overcome the reality of the conflict between Russia and Ukraine.

“I want to leave a reflection on seeking consensus for the good of the region, being able to agree on fundamental issues to be able to get out of the covid crisis and the new geopolitical challenges”, Restrepo said.

“Hand in hand with the efforts that we build by consensus, we will be able to take a leap forward in what the region requires after the greatest shock in its recent history”concluded the Colombian minister.

At the closing of this event on its first day, the Board of Governors made Panama official as the host country for the meeting in 2023.

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