Transcript
CLOSING CEREMONY
The Annual Meeting of the Inter-American Development Bank closed its doors in Belo Horizonte, Brazil.
And did so with cautious optimism generated by the relative wealth that the region enjoys.
But also with the understanding that Latin America and the Caribbean face critical challenges in the future.
The most obvious, undoubtedly, is to close the gap of unequal distribution of wealth, the biggest gap in the world.
SOT
Luis Alberto Moreno
President
Inter-Americano Development Bank
There is a consensus about the favorable economic performance in the region, but although the economy is going well, our societies aren’t as strong. There is a need to address these gaps. Our recommendation is for countries in the region to be centered on reducing poverty and inequality.
The meeting also gave rise to an interesting debate about the role of the member countries in determining their own economic policies based on a clear social objective.
During the Annual Meeting we repeatedly heard that growth without fair and just distribution of wealth is like putting the horse behind the carriage.
SOT
Moreno again
The persistence of rampant inequality is the main Achilles’ heel of the region, because it intensifies the impatience and frustration of the developing countries that will question the capacity of a democracy and the market economy to improve their destiny. The necessity is to arrive at bigger growth that will be sustainable for all.
The meeting, which drew more than 10 thousand participants and about 600 journalists, gave special attention to the lack of funding for infrastructure, which impedes development in numerous areas in the region.
In response to these challenges, President Moreno gave a detailed plan of the future IDB initiatives.
SOT
Moreno again
In the various forums of the Annual Meeting, reference was made to the importance of the following tasks: to deepen economic reforms to try to protect economies more vulnerable to external shocks, such as the price increase of oil and the energy crisis, to increase investments related to infrastructure for which we need to improve the business environment and the rate of private investment. As the Governor for Brazil pointed out, we need to enhance the external orientation in our economies, promote integration and a commonality for the entire region. And also increase the opportunities and tools for integration of the poorest people as part of modernizing our economies. As the Governor for the U.S pointed out, this is fundamental.
The meeting was inaugurated under the motto, “open doors to development”. And today it ended with the determination that these doors will not close again.
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