AS/COA hosted its annual conference in Lima on September 4, featuring a remarks by President Alan García, Prime Minister Jorge del Castillo, and Foreign Affairs Minister José Antonio García Belaunde. Read a summary of the event.
Peru
Several economies in Latin America have thus far shown signs of being able to weather the U.S. credit crunch. Peru serves as a prime example, posting impressive growth results.
In recent weeks, Ottawa proved its growing clout in Latin America through a visit from Chilean President Michelle Bachelet, the approval of a trade pact with Peru, and completion of free-trade negotiations with Colombia.
With tensions running high between some Andean countries, AS/COA convened a roundtable on economic, political, and security issues affecting the region. The discussion included a keynote speech by Ecuador's Minister of the Government and Police Fernando Bustamante.
Leaders from the European Union and Latin America gathered in Lima for a biennial summit, focusing on trade, inequality, and climate change as rising food prices threaten to exacerbate poverty.
Following the release of first quarter indicators and news of record FDI rates, several Latin American countries showed capacity to weather global economic volatility. But analysts warn of slower growth in the coming year.
Peru's Finance Minister Luis Carranza Ugarte spoke at COA's 38th Washington Conference on the Americas, discussed his recent impressive growth as well as the obstacles to consolidating such gains. “Only through poverty reduction will we be able to consolidate our democratic system," said Carranza.