Our fifth Americas Summit brought together world-renowned political leaders, business innovators, global non-governmental representatives, and impressive young minds to tackle the toughest issues and the biggest opportunities facing the Western Hemisphere. A fully-digital experience allowed for a diverse range of programming and networking, as well as enhanced engagement across geographies and time zones.
Latin America is one of the globe’s worst-affected regions from today’s COVID-19 pandemic. Strict lockdowns have taken an unprecedented hit on the regional economy. The IMF’s most recent Regional Economic Outlook for the Western Hemisphere projects a real GDP contraction of 8.1% in the region by the end of 2020. Recovery will ultimately be shaped by how the pandemic impacts external and domestic demand, and how the scars left by the crisis affect the region’s production capacity. Policies should remain focused on containing the pandemic and cementing the recovery. Further fiscal support should be accompanied by explicit, legislated and clearly communicated commitments to consolidate and rebuild fiscal defenses over the medium term. The 2020 Americas Summit explored the outlook for economic recovery and trade across the region at large, particularly identifying how financial regulation must address the enhancement of automatic stabilizers, social safety nets and access to health and education, all while preserving public investment.
Climate change is altering sea levels and temperatures at an unprecedented rate, and its effects are likely to be even more significant over time, impacting sectors ranging from agriculture and water supply to energy and ecosystems. To combat global warming, many argue that renewable energy will have to replace fossil fuels, which requires overcoming many technical, economic, and political challenges. Over recent decades, it has become evident that the Latin American region presents immense opportunity for investment in this sector, but there is still a long way to go. Discussions within this programming block focused on the role of investors, policymakers, business leaders, and cross-sector stakeholders in advancing clean energy innovation by creating markets and encouraging the diffusion of new technologies across their economies.
Democracy across Latin America is facing a number of deep challenges. Over recent months, demonstrations of discontent against local leadership have been witnessed throughout the region, evidenced by a wave of protests across the continent propelled by social media, even in the midst of a global pandemic. Conversations taking place within this programming block analyzed the political and social spectrum throughout Latin America and what’s needed to effectively address inequality, refugee crises in key areas of the region, social unrest, and opportunity gaps from México all the way to Argentina.
Over the past months, the COVID-19 pandemic has greatly underscored the importance of technology and connectivity in today’s world. In an era of digital transformation, it is imperative that governments implement innovative solutions and leverage technological advances to achieve economic growth, success, and inclusivity. Achieving connectivity throughout the region, giving support to entrepreneurs, and formalizing the economy through digital transformation should be integral to the priorities and approach of local leaders. Conversations within this programming block addressed the role of technology within a COVID-19 context and its influence on economic recovery and job creation.
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