DOCSLIB.ORG

View Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
View Annual Report FINANCIAL SUMMARY 2002–2006 ORDINARY CAPITAL (In millions of U.S. dollars) 2006 2005 2004 2003 2002 Operational Highlights Loans and Guarantees Approved $ 5,774 $ 6,738 $ 5,468 $ 6,232 $ 4,143 Loan Disbursements 6,088 4,899 3,768 8,416 5,522 Loan Repayments 8,615 5,224 5,199 7,279 4,106 Balance Sheet Data Cash and Investments–Net, After Swaps $ 16,051 $ 13,717 $ 13,046 $ 14,855 $ 14,780 Loans Outstanding 45,932 48,135 49,842 50,655 47,958 Undisbursed Portion of Approved Loans 16,080 17,000 16,093 15,619 18,570 Total Assets 66,475 65,382 67,346 69,669 65,031 Borrowings Outstanding, After Swaps 43,550 43,988 45,144 49,275 48,179 Equity 19,808 18,727 18,511 17,112 14,269 Income Statement Data Loan Income $ 2,466 $ 2,413 $ 2,498 $ 2,711 $ 2,639 Investment Income 619 403 288 298 319 Borrowing Expenses, After Swaps 2,070 1,733 1,572 1,636 1,842 Operating Income 627 712 862 2,434 727 Ratio Total Equity to Loans Ratio (TELR) 40.8% 37.3% 36.1% 33.0% 30.9% FUND FOR SPECIAL OPERATIONS (In millions of U.S. dollars) 2006 2005 2004 2003 2002 Operational Highlights Loans and Guarantees Approved $ 605 $ 410 $ 552 $ 578 $ 406 Loan Disbursements 398 424 463 486 313 Loan Repayments 290 301 294 296 256 Balance Sheet Data Cash and Investments, Net $ 1,592 $ 1,564 $ 1,559 $ 1,591 $ 1,616 Loans Outstanding 7,115 6,873 7,041 7,216 6,763 Undisbursed Portion of Approved Loans 2,229 2,051 2,083 2,000 1,920 MEMBER COUNTRIES Total Assets 9,530 9,386 9,662 10,044 9,845 Fund Balance 9,140 9,041 9,194 9,622 9,520 Income Statement Data Argentina Denmark Italy Slovenia Loan Income $ 152 $ 149 $ 145 $ 153 $ 115 Austria Dominican Jamaica Spain Technical Cooperation Expense 19 28 31 23 31 HIPC Debt Relief (5 ) 76 486 37 38 Bahamas Republic Japan Suriname Excess of Income Over Expenses Barbados Ecuador Korea, Sweden (Expenses Over Income) 105 (3 ) (413 ) 53 12 Belgium El Salvador Republic of Switzerland Belize Finland Mexico Trinidad Bolivia France Netherlands and Tobago LETTER OF TRANSMITTAL Brazil Germany Nicaragua United As required under the By-laws of the Inter-American Develop- In addition, the Report contains a description of the Canada Guatemala Norway Kingdom ment Bank, the Board of Executive Directors hereby submits Bank’s operations—loans, guarantees and grants—; Manage- Chile Guyana Panama United States to the Board of Governors the Annual Report of the Bank for ment’s Discussion and Analysis: Ordinary Capital; the finan- 2006. The Report contains a brief summary of the economic cial statements of the Bank; and its general appendices. Colombia Haiti Paraguay Uruguay situation of Latin America and the Caribbean and a review of Costa Rica Honduras Peru Venezuela the Bank’s operations in 2006. January 26, 2007 Croatia Israel Portugal THE BANK IN 2006 i Annual Report 2006 INTER-AMERICAN DEVELOPMENT BANK TABLE OF CONTENTS Message from the President . .1 Private Sector Development . 32 Board of Executive Directors . .3 Risk Mitigation and Integrity . 39 Latin America and the Caribbean in 2006 The Year’s Lending International Environment. .6 Summary. 42 Main Macroeconomic Outcomes. .7 Technical Cooperation . 51 Labor and Social Outcomes . .8 Cofinancing . 52 Outlook for 2007 . .9 Funds in Administration . 53 Key Areas Institutional Aspects Poverty Reduction and Social Equity . 12 Board of Governors . 56 Sustainable Economic Growth . 13 Board of Executive Directors . 57 Modernization of the State . 15 Administration . 62 Competitiveness . 17 Social Development . 20 Financial Highlights Integration. 24 Ordinary Capital . 64 Opportunities for the Majority . 27 Fund for Special Operations. 69 Environment . 29 Basic Financial Statements. 72 Infrastructure . 31 Note: The complete Annual Report, including Management’s Discussion and Analysis and the audited Financial Statements, is published in the CD-ROM attached to the inside back cover of this report. The Annual Report is also available on the Bank’s website at www.iadb.org. Cover photoS • (clockwise from upper left): GUATEMALA • Clean water in Huehuetenango reduces the risk of waterborne disease; at-risk youth in Guatemala City receive job training linked to labor market demand; a microentrepreneur in San Antonio Ilotenango produces tex- tiles thanks to a microloan; girls in Guatemala City learn computer skills that will help them enter the labor market. Center: children in Huehuetenango. ABOVE • GUATEMALA • Weaver in Chimaltenango who benefited from business services sup- plied by a private foundation that supports rural women. ii ANNUAL REPORT 2006 Tables in Print Version ADDITIONAL MATERIAL IN CD-ROM I. Latin America and the Caribbean: Main Macro- economic Results, 2006 . .9 II. Distribution of Loans and Guarantees by Sector Table XI • Ten Years of IDB Operations, of Activity . 43 1997–2006. .79 III. Yearly (2006) and Cumulative (1961–2006) Table XII • Active Funds in Administration . 80 Lending Information . 44 Table XIII • Disbursements for Purchase of Goods IV. Statement of Approved Operations and Services by Country of Origin (Above $1 Million), 2006 . 46 (Policy-Based Loans) . .81 V. Distribution of Nonreimbursable Technical Table XIV • Disbursements for Purchase of Goods Cooperation . 51 and Services by Country of Origin VI. Cofinancing in 2006 . 54 (Investment Loans) . .82 VII. Borrowings, Fiscal Year 2006. 66 Table XV • Consolidated Administrative VIII. Outstanding Borrowings by Currency Expenses . .83 as of December 31, 2006. 67 IX. Statement of Loans Outstanding as of Financial Statements December 31, 2006 . 68 Management’s Discussion and Analysis: X. Subscriptions to Capital Stock, Contribution Ordinary Capital. .87 Quotas and Voting Power as of Financial Statements: December 31, 2006 . 70 Ordinary Capital. 109 Fund for Special Operations . 139 Boxes Intermediate Financing Facility Account . 153 1. Living with Debt. 14 2. One-Stop Justice in Peru . 16 Appendices 3. Genetic Research Boosts Exports in Chile. 18 Governors and Alternate Governors . 159 4. Flagship Mexican Program Lifts Millions Executive Directors and Alternate Out of Poverty . 21 Executive Directors . 160 5. Bridging the Last Frontier in South America . 23 Channels of Communication and 6. Central American Energy . 24 Depositories . 161 7. Brazilian Rubber Tappers Preserve the Rain Principal Officers . 162 Forest . 26 Country Offices and Representatives . 163 8. Preventing Losses from Natural Disasters. 28 Books Published in 2006 . .164 9. The Sustainable Energy and Climate Change Initiative . 30 10. Water Runs Uphill in Colombia. 33 11. InfraFund . 34 12. Natural Gas Megaproject Fuels Change Figures in Peru . 37 1. Gross Domestic Product Growth, 2006 . .7 13. Subnational Lending . 38 2. Commodity Prices, 2004–2006 . .7 14. IDB Realigns to Improve Effectiveness . 58 3. Financial Conditions, 2004–2006 . .8 15. IDB Offices in Europe and Japan Strengthen 4. Unemployment, 2005–2006 . 10 Partnerships . 60 5. Poverty, 1990–2006 . 10 6. Lending by Sector, 2006 . 42 7. Lending by Sector, 1961–2006 . 42 8. Lending and Disbursements, 1997–2006 . 45 9. Nonreimbursable Technical Cooperation by Sector, 2006 . 51 10. Borrowings Issued in 2006, Before Swaps . 65 THE BANK IN 2006 1 MESSAGE FROM THE PRESIDENT wo thousand six was a year of progress and change LUIS ALBERTO MORENO for Latin America and the Caribbean, and also for idb president Tthe Inter-American Development Bank Group. The economic growth rate for Latin America and the Caribbean continued upward in 2006, with regional GDP increasing by an estimated 5.3 percent, based on both a year. The Inter-American Investment Corporation enjoyed favorable external environment and the consolidation of the best year in its 17-year history, achieving record loan macroeconomic reform and stabilization. The overall eco- approvals of $338 million, while keeping administrative nomic news was good, with positive trends in unemploy- costs virtually unchanged. At the Multilateral Investment ment, inflation, domestic investment and the generation of Fund, following the IDB Board of Governors’ approval of a larger surpluses by central governments. One particularly capital replenishment in 2005, project approvals were $125 encouraging sign was the decline in poverty rates: overall, million, primarily in grants, an 11 percent increase relative the percentage of the region’s population living in poverty to the previous year. fell below 40 percent for the first time since 1980, more At the Inter-American Development Bank Group, the than a generation, and the share of those living in extreme year was also marked by significant change and innovation. poverty, on less than $2 per day, fell to 15 percent. On a The Bank launched a number of major new programs dur- less positive note, the region as a whole continued to lag ing the year, chief among them the Opportunities for the behind other parts of the world, notably Asia, in competi- Majority initiative, which reflects a shift in emphasis from tiveness. the macroeconomic to the microeconomic. Opportunities The Bank delivered a solid and innovative lending for the Majority is predicated on the need to create strate- program. Approvals of loans and guarantees—127 proj- gic partnerships among a number of key actors in devel- ects for nearly $6.4 billion—were up in terms of the num- opment, aligning the interests of the private sector, civil ber of operations but slightly lower in volume compared society and communities and acknowledging that past with 2005. Disbursements at the Bank in 2006 totaled approaches to financing development projects may have nearly $6.5 billion, a 22 percent increase over the previous proven too monolithic to achieve measurable, sustainable 2 ANNUAL REPORT 2006 impacts for the estimated 360 million people in our region structure of the Bank to enable it to meet strategic chal- with incomes of less than $280 per month.
Load more

Recommended publications
  • 1 Road Map for the Formulation of An
    1 ROAD MAP FOR THE FORMULATION OF AN INSTRUMENT ON THE APPLICATION OF PRINCIPLE 10 IN LATIN AMERICA AND THE CARIBBEAN We, the Latin American and Caribbean signatory countries to the Declaration on the application of Principle 10 of the Rio Declaration on Environment and Development,1 Recalling the Declaration of the United Nations Conference on the Human Environment, the Rio Declaration on Environment and Development, Agenda 21, the Programme for the Further Implementation for Agenda 21, the Johannesburg Declaration on Sustainable Development, the Plan of Implementation of the World Summit on Sustainable Development and the outcome document of the United Nations Conference on Sustainable Development, held in Rio de Janeiro (Brazil) in June 2012, entitled “The future we want”, Resolved to make commitments to ensure the full exercise of rights of access to information, participation and justice regarding environmental issues as enshrined in Principle 10 of the Rio Declaration, understanding these to be prerequisites for building a citizenry that is committed to sustainable development, Emphasizing that the member countries of the Community of Latin American and Caribbean States (CELAC) acknowledged the need to build a common space for deepening political, economic, social and cultural integration in our region and for establishing effective commitments to joint action to promote sustainable development in Latin America and the Caribbean in a framework of unity, democracy, full respect for human rights, solidarity, cooperation, complementarity
    [Show full text]
  • The Rise and Fall of the Inter-American System
    V Congreso Latinoamericano de Ciencia Política. Asociación Latinoamericana de Ciencia Política, Buenos Aires, 2010. The Rise and Fall of the Inter-American System. Poggio Teixeira Carlos Gustavo. Cita: Poggio Teixeira Carlos Gustavo (2010). The Rise and Fall of the Inter-American System. V Congreso Latinoamericano de Ciencia Política. Asociación Latinoamericana de Ciencia Política, Buenos Aires. Dirección estable: http://www.aacademica.org/000-036/565 Acta Académica es un proyecto académico sin fines de lucro enmarcado en la iniciativa de acceso abierto. Acta Académica fue creado para facilitar a investigadores de todo el mundo el compartir su producción académica. Para crear un perfil gratuitamente o acceder a otros trabajos visite: http://www.aacademica.org. The rise and fall of the Inter-American System Carlos Gustavo Poggio Teixeira Doctoral candidate in International Studies at Old Dominion University, with sponsorship from Fulbright and the Brazilian Ministry of Education. E-mail: [email protected] Field: International Relations Paper prepared for presentation at the V Congreso Latinoamericano de Ciencia Política, organized by Asociación Latinoamericana de Ciencia Política (ALACIP). Buenos Aires, July 28- 30, 2010 Abstract This paper proposes to look back at the evolution of the so called Inter-American System since its first manifestations in the first half of the 19th century in order to shed some light on current developments. Some explanations that may have led to the current atmosphere of deterioration of this system are proposed. Additionally, it intends to assess what this deterioration means and what practical consequences it may bring. The conclusion is that the recent events are in fact symptom of a broader historical phenomenon of increasingly decline of the Inter-American System and if the present posture is maintained this decline tends to get steeper overtime.
    [Show full text]
  • The European Union's Policy Towards Mercosur
    towards Mercosur towards policy Union’s The European EPRU The European Union’s policy towards Mercosur European Series Policy This book provides a distinctive and empirically rich account of the European Research Union’s (EU’s) relationship with the Common Market of the South (Mercosur). It seeks to examine the motivations that determine the EU’s policy towards Unit Mercosur, the most important relationship the EU has with another regional Series economic integration organization. In order to investigate these motivations (or lack thereof), this study The European examines the contribution of the main policy- and decision-makers, the European Commission and the Council of Ministers, as well as the different contributions of the two institutions. It analyses the development of EU policy towards Mercosur in relation to three key stages: non-institutionalized Union’s policy relations (1986–1990), official relations (1991–1995), and the negotiations for an association agreement (1996–2004 and 2010–present). Arana argues that the dominant explanations in the literature fail to towards adequately explain the EU’s policy – in particular, these accounts tend to infer the EU’s motives from its activity. Drawing on extensive primary documents, the book argues that the major developments in the relationship were initiated by Mercosur and supported mainly by Spain. Rather than Mercosur the EU pursuing a strategy, as implied by most of the existing literature, the EU was largely responsive, which explains why the relationship is much less developed than the EU’s relations with other parts of the world. The European Union’s policy towards Mercosur will benefit academics and Responsive not strategic postgraduate students of European Union Foreign Affairs, inter-regionalism Gomez Arana and Latin American regionalism.
    [Show full text]
  • Fifth Summit Needs a Big Idea to Stay Relevant
    Fifth Summit Needs a Big Idea to Stay Relevant Paul Haslam University of Ottawa FOCAL 1 Nicholas St., Suite 720, Ottawa, ON K1N 7B7 Tel: 613-562-0005 Fax: 613-562-2525 Email: [email protected] www.focal.ca About the Hemispheric Think Tank Working Group in Support of the 2009 Summit of the Americas This paper was produced as part of the Hemispheric Think Tank Working Group in Support of the 2009 Summit of the Americas, a joint project of the Canadian Foundation for the Americas (FOCAL) and the Inter-American Dialogue (IAD) with the financial support of the Government of Canada provided through the Canadian International Development Agency (CIDA). The Working Group brought together researchers and policy analysts from the Western Hemisphere’s leading think tanks to engage in intensive debate and dialogue and develop a strong intellectual and policy foundation for preparing and conducting the Summit. In meetings in Ottawa and Washington, D.C., attended by leading national and multilateral officials, the group explored the critical problems the Summit could address, identified key areas of agreement and disagreement among countries, deeply probed the disagreements, and, where possible, sought to develop pragmatic approaches. These discussions and research have resulted in a series of policy papers that hope to mobilize and raise awareness of the Summit amongst regional governments and civil society. 1 In many ways we can view the Summits of the Americas as performance art–a theatrical reiteration of Arthur Whitaker’s Western Hemisphere Idea–that enacts the notion that we, the nations of the Americas, share a common history and common destiny.
    [Show full text]
  • Common Agenda Agenda a Common Toward Toward a Common Agenda Agenda a Common Toward
    Andean-U.S. Dialogue Forum February 2011 This report has been developed by The Carter Center and the International Institute for Democracy and Electoral Assistance (International IDEA) as part of the Andean-U.S. Dialogue Forum. It is intended to promote more effective cooperation by identifying convergences and divergences in priorities among the countries and the peoples of Venezuela, Colombia, Ecuador, Peru, Bolivia and the United States. Developed as a "Common Agenda", it seeks to enhance understanding of the internal dynamics in e ach country and reduce stereotypes that impede cooperation. The report highlights the transnational issues of energy, climate change, trade, and illegal drugs, Andean Countries and the United States the for Agenda a Common Toward recognizing that progress requires a collective response. The Carter Center The Carter Center was founded in 1982 by former U.S. President Jimmy Carter and his wife, Rosalynn, in partnership with Emory University, to advance peace and health worldwide. A not-for-profit, nongovernmental organization, the Center has helped to improve life for people in more TowardToward aa CommonCommon AgendaAgenda than 70 countries by resolving conflicts; advancing democracy, human rights, and economic opportunity; preventing diseases; and improving forfor thethe AndeanAndean CountriesCountries mental health care. andand thethe UnitedUnited StatesStates International IDEA International IDEA is an intergovernmental organization with 25 member countries. The Institute supports democratic institutions and processes worldwide by providing resources to strengthen capacities, developing policy proposals and supporting democratic reforms. International IDEA's main areas of expertise are electoral processes, political party systems, constitutional processes, gender and democracy. ISBN: 978-91-86565-09-1 Toward a Common Agenda for the Andean Countries and the United States Andean-U.S.
    [Show full text]
  • Rio Group Meeting Cochabamba Declaration; 16 April 1996
    VIth institutionalized ministerial European Union - Rio Group meeting Cochabamba Declaration; 16 april 1996 1. The VIth institutionalized ministerial meeting of the Rio Group and the European Union was held in Cochabamba (Bolivia) on 15 and 16 April 1996, in accordance with the provisions of the Rome Declaration of 20 December 1990 and the Final Declaration of the Vth ministerial meeting held in Paris on 17 March 1995. 2. Ministers confirmed the vital importance they attached to respect for human rights and citizens' fundamental freedoms and to the principles of democracy and political pluralism. Those values form the basis for collaboration between the European Union and the Rio Group and also represent an essential element in securing sustainable development. 3. Ministers made a positive assessment of the political dialogue and of the relations and cooperation between the countries of the Rio Group and the European Union since the Rome Conference. They also agreed to make their coordination within international organizations even more effective. 4. The institutionalization of the biregional dialogue had contributed to the strengthening of relations with the different subregions and countries of the Rio Group. 5. Cooperation had been enhanced, in particular as a result of the Third-Generation Agreements, greater involvement of civil society, the definition of strategies for the subregions, countries and sectors and the implementation of horizontal programmes. 6. In the last five years, Latin America and the Caribbean had become one of the most dynamic world markets for European exports; the countries of the European Union had become one of the main investors in the region.
    [Show full text]
  • Chile on Behalf of the Rio Group
    SECRETARIA PRO - TEMPORE CHILE 2010 – 2012 Check against delivery STATEMENT BY THE MINISTER OF THE NATIONAL SERVICE FOR WOMEN OF CHILE, MRS. CARMEN ANDRADE, ON BEHALF OF THE RIO GROUP 54TH SESSION OF THE COMMISSION ON THE STATUS OF WOMEN New York, 1st March 2010 Mr. Chairperson, I have the honour to speak on behalf of the countries in the Rio Group - Argentina, Belize, the Plurinational State of Bolivia, Brazil, Colombia, Costa Rica, Cuba, the Dominican Republic, Ecuador, El Salvador, Guatemala, Guyana, Haiti, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Suriname, Uruguay, the Bolivarian Republic of Venezuela, Jamaica representing CARICOM, and my own country, Chile - on the Follow-Up to the Fourth World Conference on Women and the twenty-third special session of the General Assembly, entitled “Women 2000: Gender Equality, Development and Peace for the Twenty-First Century”. On behalf of the Rio Group, I congratulate you and the other members of the Bureau on your election and wish you success in the performance of your duties at this and the next session. Mr. Chairperson, The delegation of Chile avails of this opportunity to express its deepest gratitude for the numerous expressions of solidarity and condolences received after the tragic earthquake that devastated Chile last 27 February, all of which we will carry in our hearts and will convey to the Chilean people and, in particular, to the affected women. Mr. Chairperson, The Rio Group expresses solidarity with the people of Haiti who have suffered so much in the January earthquake and endorses the efforts and numerous acts of support to help our sister nation.
    [Show full text]
  • Download (665Kb)
    OMMISSION OF THE EUROPEAN COMMUNITIES COM(94) 428 final Brussels, 19.10.1994 COMMUNICATION FROM THE COMMISSION TO THE QQUNCIL AND THE EUROPEAN PARLIAMENT THE EUROPEAN COMMUNITY AND MERCOSUR: AN ENHANCED POLICY TilE ElJH.OPEAN COMMrNITY AND MI(H.COSl'R: AN ENIIANCED POLICY In Its conclusions, the Corfu European Council of 24 and 25 June th1s year reaffirmed the Importance It attached to Its relations w1th Latm Amencan countries and then regiOnal groupmgs It expressed its satisfaction w1th the progress achieved i.n the areas of democracy and respect for human nghts, peace and disarmament, economic reforms and regional integration. The European Council welcomed the accession of Mexico to the OECD and expressed its wish to strengthen its political and economic relations with this country. It also confirmed the intention of the European UniOn to strengthen its relations with Mercosur It mvites th~ Council and the Commission to pursue these questions further.' These conclusions were foreshadowed by a statement issued by the Council at its general affairs meeting of 13 and 14 June, in which it expressed its willingness to strengthen relations between the European Union and that important Latin American regional groupmg. The Council had also taken note, on this occasion, of the progress of the Commission's work on the matter and said that it would examme a Commission commumcation m the autumn Several months earlier the foreign 1mnisters of the European Umon, at a meeting w1th their Mercosur counterparts m Sao Paolo, had agreed to strengthen cooperation in pursuit of more ambitious goals To that end, the Commission had been instructed to present a report to the .Counci I soon.
    [Show full text]
  • Venezuela in the Caribbean: Expanding Its Sphere of Influence by Sir Ronald Sanders
    Venezuela in the Caribbean: Expanding its sphere of influence By Sir Ronald Sanders Former Caribbean Ambassador and business executive Abstract: In the wake of deteriorating relations between the government of Hugo Chavez in Venezuela and the administration of George W Bush in the United States, Venezuela has sought to expand its influence into Commonwealth Caribbean countries by offering a loan scheme for oil payments. CARICOM countries account for almost half the votes in the Organisation of American states and the Latin American and Caribbean Group in UN bodies. President Chavez has called on the Caribbean to join a “sea of resistance” against US imperialism as part of his programme of 21 st Century socialism and rejection of the US initiative for a Free Trade Area of the Americas. The US had written to CARICOM countries warning them against a relationship with Chavez and accusing him of threatening democracy. This article analyses the traditional relationship between CARICOM and the US on the one hand and the new relationship with Venezuela on the other, and argues that the CARICOM countries, small though they are, will act in their own interests. Key words: Caribbean, Venezuela, US, Petro Caribe Introduction Prior to 2005, Venezuela had little influence on the 15 member States of the Caribbean Community (CARICOM), 1 even though for years it maintained diplomatic missions in virtually every one of them. Only three CARICOM countries have resident diplomatic missions in Venezuela. These are: Guyana, Jamaica and Trinidad and Tobago. There was insubstantial trade between Venezuela and CARICOM States, poor transportation links, virtually no tourism, and inconsequential investment.
    [Show full text]
  • Note for Mr. Michael Moller, Executive Office of the Secretary-General
    Note for Mr. Michael Moller, Executive Office of the Secretary-General Subject: Preparations on the Group of Rio's initiative for a summit meeting on "Innovative Financial Mechanisms Designed to secure Democratic Governance and contribute to the Alleviation of Poverty" 1. At his meeting with representatives of the "Rio Group" of Latin American countries held in November in Santa Cruz, Bolivia, on the occasion of the Xlllth Iberoamerican Summit, the Secretary-General offered the assistance and support of the United Nations in the convening of a high-level international meeting to address issues related to "innovative financial mechanisms designed to secure democratic governance and contribute to the alleviation of poverty". 2. The UN Department of Economic and Social Affairs prepared, in consultation with the Peruvian government (in its capacity as "Pro-tempore Secretary" of the Rio Group), a technical note on the subject (attached), which identifies the following five broad issues as possible elements for an agenda for the meeting: (a) definition of fiscal targets; (b) design of structural counter-cyclical measures; (c) review of debt servicing practices; (d) consideration of indexed bonds; and (e) creation of regional infrastructure authorities. 3. The Under-Secretary-General for Economic and Social Affairs convened a first preparatory meeting, to discuss the technical note, as well as other aspects related to the organization of the high-level meeting, to be held on Monday 15 December 2003. In addition to the Peruvian government, the following institutions were invited: World Bank, International Monetary Fund, Inter-American Development Bank, Andean Development Corporation and the UN Economic Commission for Latin America and the Caribbean.
    [Show full text]
  • Cooperation and Regional Integration in Latin America and the Caribbean
    Cooperation and regional integration in Latin America and the Caribbean COOPERATION AND REGIONAL INTEGRATION ORGANIZATIONS IN LATIN AMERICA AND THE CARIBBEAN United States Canada UNASUR Andean Community, CAN (1996) United States Caribean Community, CARICOM (1973) Saint Kitts & Nevis Antigua & Barbuda Central American Common Market, Bahamas Montserrat CACM (1960) Dominica Saint Lucia Mexico Saint Vicent & Granadines Cuba Dominican Rep. Common Market of the South, Jamaica Grenada MERCOSUR (1991) Belize Haiti Barbados Honduras Trinidad & Tobago Guatemala North American Free Trade El Salvador Nicaragua Agreement, NAFTA (1992) Panama Costa Guyana Rica Venezuela Surinam Central American Integration System, SICA (1993) Colombia Equador LAIA: Mexico, Cuba, Chile, countries of the Andean Community and Mercosur Brazil Peru IBERO-AMERICAN COMMUNITY: Andorra, Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Bolivia Equador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Portugal, Dominican Republic, Spain, Uruguay Paraguay and Venezuela RIO GROUP: Argentina, Belize, Bolivia, Brazil, Chile, Colombia, Costa Chile Uruguay Rica, Cuba, Equador, El Salvador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Argentina Panama, Paraguay, Peru, Dominican Republic, Surinam, Uruguay and Venezuela OAS: all the American independent States except Cuba 127 LATIN AMERICAN INTEGRATION in different ways because of prices and volumes. Countries ex- ASSOCIATION (LAIA) porting basic products suffered drops in prices while exporters The ongoing effects of the world financial crisis resulted in of manufactured goods were affected by the reduced volume diminished growth and a slump in international trade in 2009. of goods exchanged. As for imports, in general, slowdowns According to estimates compiled in the IMF report World Eco- were basically due to the diminished volume of purchases.
    [Show full text]
  • Report on the Treatment of Asymmetries in the Context of Regional Cooperation
    Government of Guyana Rio Group Technical Meeting LIMITED "The Treatment of Asymmetries in LC/CAR/L.112/Rev.1 the context of Regional Cooperation" 14 February 2007 Port-of-Spain, Trinidad and Tobago ORIGINAL: ENGLISH 11-12 January 2007 REPORT ON THE TREATMENT OF ASYMMETRIES IN THE CONTEXT OF REGIONAL COOPERATION ________________ This paper has been reproduced without formal editing. This report is prepared for the XIX Summit of the Rio Group, 2-3 March 2007, Georgetown, Guyana. Acknowledgement The Economic Commission for Latin America and the Caribbean (ECLAC) Subregional Headquarters for the Caribbean wishes to acknowledge the assistance of Dr. Norman Girvan, Senior Lecturer at the Institute of International Relations (IIR) of the University of the West Indies (UWI), in the preparation of this report. Table of Contents Introduction..................................................................................................................................... 1 Types of asymmetries ..................................................................................................................... 2 Asymmetries of size........................................................................................................................ 3 Beyond special and differential treatment ...................................................................................... 4 The need to expand CARICOM-Latin American Trade................................................................. 6 Other measures...............................................................................................................................
    [Show full text]