Latin American and Caribbean Governments Agree to Join Forces Against Inflation

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Mexican President Andres Manuel Lopez Obrador reacts during his morning press conference at the National Palace in Mexico City, capital of Mexico, June 6, 2022. (Photo by Francisco Canedo/Xinhua)

On April 5, the leaders of 11 Latin American and Caribbean countries took part in a virtual summit against inflation called by Mexican President Andrés Manuel López Obrador (AMLO). The summit sought to form an alliance to jointly face the inflation crisis affecting the region.

In addition to President AMLO of Mexico, the countries represented were Argentina, Bolivia, Brazil, Chile, Cuba, Honduras, Venezuela, Belize, Colombia, and Saint Vincent and the Grenadines.

During the meeting, political leaders discussed joint solutions to face high food prices and shortages in the region, as well as to strengthen regional integration and trade. They expressed their will to unite efforts to guarantee economic growth and development that promote inclusion, equity, and sustainability of food and nutrition security for people, and to face inflationary pressures on the basic food basket and essential goods and services. They also committed to strengthening their economies and productive sectors through inclusion, solidarity, and international cooperation.

In this regard, the leaders signed a joint declaration and agreed on actions to “advance the definition of trade facilities as well as logistical, financial, and other measures that will allow the exchange of basic food basket products and intermediate goods under better conditions, with the priority of lowering the costs of such products for the poorest and most vulnerable population.”

Credit Line: from the Peoples Dispatch / Globetrotter News Service

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