Latin America - Haiti Observer Blog

Very rarely does the United States get left out of any group, especially one including every country in its hemisphere save its North American neighbor, Canada. But, excluded have both countries been from the Community of Latin American and Caribbean States. CELAC, an acronym from the community's Spanish name, started in 2011, in an endeavor to achieve greater integration within the Americas and act as an equalizing force against the might of the U.S.

On the 26th of January, leaders from the community's member nations, including Haiti's Michel Martelly, Evo Morales from Bolivia, Argentina's Cristina Fernandez and Brazil's Dilma Rousseff, met to discuss the regional challenges of inequality and poverty at a summit held in Cuba. Pre-meetings between officials of the lower level took place earlier over the weekend, with foreign ministers taking the fore on Monday, January 27.

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Latin America and Caribbean region are both now moving on a path of high economic growth and they are capable to manage risks of economies plummeting for sustaining stable financial economic environment. As per a recent statement of Alejandro Werner, who is the Director of the Western Hemisphere, Department of the International Monetary Fund, although the recovery process in the region is not very fast but has been observed to remain positive.

While attending a forum organized by Latin Trade Group, Alejandro Werner alerted concerned nations to remain prudent. Because there are many obstacles to retard the development-- high fuel prices, slowdown of Chinese economy, changes in U.S. policy which may have negative effect on the region's fragile economy. The countries should recognize good opportunities and reap benefits with right fiscal or monetary measures.

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