Princeton SPIA 2024 Latin America Conference Memoir
PRINCETON SPIA
CONFERENCE
2024 conference memoir
When Ambassador Juan Carlos Pinzón approached me with his idea for Princeton SPIA to host a premier Latin America Conference, I couldn’t say yes fast enough. Internationalization has been a strategic priority for the School since I came on board as dean – we spent the 2023-24 academic year focusing on Latin America, with numerous SPIA faculty members centering research and teaching initiatives on the region. This conference was a highlight of all of these efforts.
Over two days, we welcomed dozens of distinguished guests – including three former Latin American heads of state – to offer their unique perspectives on this vital region. Alumni and students of the School were in attendance to listen, to learn, and to ask questions. In the pages that follow, you’ll get a sense of what they discussed – and why it matters. I hope you enjoy reading.
Amaney Jamal Dean, Princeton School of Public and International Affairs
Dear all,
Latin America is often considered the land of the future, but in these uncertain times, this future seems increasingly distant. Despite having the world’s largest endowment of natural resources, a dynamic population, and massive opportunities in our globalized world, the region still faces historical challenges such as institutional fragility, poverty, and violence.
Considering that the Princeton School of Public and International Affairs’ foremost objective is making a positive difference in the world through discussing disruptive and bold ideas to unleash prosperity in our societies, we assembled an amazing group of 46 leaders from all over the Western Hemisphere to precisely draft these ideas for Latin America. Princeton became the stronghold for rethinking the future of the region over a two-day premier conference, with the participation of three former Presidents, five former Cabinet Ministers, three former Ministers of Foreign Affairs, four Ambassadors, two former Presidents of central banks, five former and current senior U.S. officials, and several members of multilateral organizations, private companies, and civil society.
The result of this colossal effort was an understanding of the roots and causes of the threats that loom over Latin America, as well as the development of strategies and actions to foster all of its strengths. However, the next step to put these ideas in motion is to bring them to reality, and the key player for this task is the youth. During my public service career of more than 20 years, and now as a professor in the University with the strongest commitment to the common good, I have confirmed that young people are the centerpiece for consolidating a longstanding change-making endeavor. Additionally, after witnessing the motivation and intellect of their engagement during the Latin America Conference, I am more than convinced that we are in great and capable hands.
Finally, I hope these memories work as guiding lines for all individuals interested in and intrigued by the beautiful lands, culture, and people of Latin America. This is the perfect base to continue working towards a brighter future, because if not we, then who? If not now, then when? If not here, then where?
Sincerely,
Juan Carlos Pinzón
John L. Weinberg/Goldman Sachs & Co. Visiting Professor and Lecturer, Princeton SPIA
H.E. GUILLERMO LASSO
former president of Ecuador Gabriela Frias moderated by
President Guillermo Lasso, the former president of Ecuador, delivered a keynote speech addressing the diverse challenges faced by Latin America, drawing from his 900 days in office. He emphasized the urgency of addressing poverty, corruption, and violence through coordinated efforts, urging young people to contribute to societal improvements with honesty and generosity. Poverty affects 30% of the population and is a significant issue in Latin America. President Lasso stressed the importance of social investment in reducing poverty and preventing criminal organizations from recruiting vulnerable populations. He highlighted Ecuador’s investments in health, education, and social programs, focusing on women and youth, which led to notable reductions in chronic childhood malnutrition.
However, Latin America’s homicide rate remains three times the global average, largely due to organized crime. In Ecuador, 90% of violent crimes are linked to such crimes. Lasso called for enhanced cooperation among democratic states to combat these issues through better intelligence, information sharing, technology, and harmonized legislation, particularly on money laundering. He noted Ecuador’s significant investments in security and cooperation with the United States. Lasso also highlighted the importance of practical,
non-ideological international relations. He detailed Ecuador’s successful COVID-19 vaccination strategy, achieved through negotiations with both China and the United States, which facilitated rapid economic recovery and growth. He advocated for practical approaches to trade agreements and economic policies to enhance regional stability.
In an interview with Gabriela Frias of CNN en Español, President Lasso reflected on his inherited economic challenges and the tangible results of his prioritized recovery efforts, including mass vaccination to revive economic activities. The discussion also covered Ecuador’s security situation, failed initiatives like the February 2023 extradition consultation, and the current President Noboa’s renewed consultation on security measures, which Lasso supports. Addressing internal politics, Lasso discussed restructuring his political movement and expressed optimism about future elections. He detailed reforms to combat organized crime, including purging corrupt elements within the judiciary, and highlighted the connection between organized crime and political figures. The conversation also touched on resolving international tensions, particularly with Mexico, and advocating for economic cooperation and trade agreements.
“The best measure we can take is to improve and deepen cooperation between democratic states. What happens in Ecuador is not isolated from what happens in Mexico because the same criminal organizations operate across our countries to traffic drugs, weapons, minerals, and people.”
H.E. GUILLERMO LASSO
ECONOMIC AND SOCIAL DEVELOPMENT
This panel explored the balance Latin America must maintain between leveraging macroeconomic stability and addressing structural issues for sustainable growth.
Ernesto Revilla, managing director and head of Latin American economics at Citibank, highlighted Latin America’s exceptional macroeconomic management amidst global uncertainties. Despite high interest rates in the U.S. and a slowdown in China, Latin America is performing well due to its strong macro frameworks. The region’s inflation rate, excluding Argentina and Venezuela, is 3.5%. This is below the OECD average due to early actions by central banks in countries like Brazil and Chile.
However, the region’s growth rate is a pressing concern. At a mere 1.6% this year, it falls short of the levels required for social mobility or poverty alleviation, necessitating an immediate reevaluation of economic models.
William Maloney
Alfonso Prat-Gay
Ernesto Revilla
Micaela Sviatschi panelists moderated by
William Maloney, chief economist for Latin America and the Caribbean Region in the World Bank Group, emphasized the crucial need for Latin America to prioritize productivity growth to address these economic challenges. He noted the region’s persistent struggle with low productivity and suggested focusing on effective industrial policies, near-shoring, and the green transition.
Alfonso Prat-Gay, former minister of finance of Argentina, called for productivity enhancement and infrastructure development. He addressed growing social demands exacerbated by COVID-19 mismanagement and the risk of political fragmentation hindering reforms.
Citing data from the latest Latin American Caribbean Economic Review, Maloney shared that 20% of Latin Americans cite violence as the most important issue, a significant shift from the previous release five years ago. Violence is now more widespread,
affecting countries previously considered safe, such as Chile. Prat-Gay, too, sees organized crime as a pervasive threat and highlighted China’s expanding role in the region amid uncertain U.S. engagement.
Surprisingly, upcoming elections in Latin America aren’t causing market concerns as they historically did. Revilla used the term
“tight macro with bad micro,” indicating stable macroeconomic policies but poor microeconomic conditions leading to low growth. This stability, however, provides a foundation for future regional development efforts.
“Latin
America is growing old before it grows rich, and that is something that needs to be tackled. Productivity is stagnating, as is infrastructure. Sadly enough, when you look at the long cycle, we need to demonstrate that we can grow strongly out of a commodity boom cycle.”
ALFONSO PRAT-GAY
two
POLITICAL CONTEXT IN LATIN AMERICA
“There is certainly a shortcoming in Washington that, too often, when we talk about Latin America from the United States, we talk about it as a world apart rather than as part of the world.”
DAN RESTREPO
During the panel discussion on the intricate political dynamics in Latin America, the esteemed panel members, each an expert in their respective fields, delved into common themes of democratic institutions, independent courts, and U.S. engagement with Latin America.
Dan Restrepo, former National Security Western Hemisphere Senior Director, underscored the prevalent tendency in Washington to view Latin America as a world apart rather than part of the world. His insights highlighted the need to recognize the region’s interconnectedness with global trends and challenges and the structural failure in U.S. policymaking to engage with Latin America adequately.
Mexican scholar and author Viridiana Rios also discussed biases in how America understands Latin America, stressing the importance of diversifying sources and engaging with a broader range of regional perspectives. Rebecca Bill Chavez, president and CEO of the Inter-American Dialogue and former academic and government official, addressed the lack of attention from the U.S. towards Latin America, attributing it partly to preoccupation with issues like migration and the war on drugs. She cautioned against militarizing security efforts in the region and stressed the importance of strengthening police and judicial systems.
Chavez discussed the erosion of democratic institutions in Latin America, noting that democratically elected leaders are increasingly dismantling these institutions. Chavez pointed out that left and rightleaning leaders have used similar tactics to consolidate power, including targeting judicial autonomy and freedom of expression. She emphasized the role of independent courts as a crucial defense against authoritarianism and highlighted recent challenges in countries like Guatemala.
Rios provided insights into Mexico’s political landscape, focusing on the upcoming election and expectations for the next president. Rios correctly predicted that the incumbent Morena party would win the presidency, making former Mexico City Mayor Claudia Sheinbaum Mexico’s first female president. Rios attributed Morena’s success to significant policy wins, including increased minimum wage, poverty reduction, and decreased inequality.
Dan Restrepo
Miguel Centeno panelists moderated by
Rebecca Bill Chavez
Viridiana Ríos
panel three
INVESTMENT POTENTIAL IN LATIN AMERICA: A PERSPECTIVE OF PRIVATE SECTOR LEADERS
This panel discussion highlighted key perspectives on investment and economic development in Latin America, including the urgent need for increased investment, the critical role of the U.S. in fostering economic relationships, and the potential of key sectors like renewable energy and IT.
Robert Mosbacher Jr., former president and CEO of Overseas Private Investment Corporation (OPIC), discussed the U.S. government’s efforts to increase investment in Latin America through OPIC and its successor, the U.S. Development Finance Corporation (DFC). Despite OPIC’s historical limitations, the new DFC was created to mobilize private capital for development more effectively, with a significant budget
Luis Carlos Vélez panelists moderated by
Robert Mosbacher Jr.
Haroldo Espalter
Laura Clavijo
and strategic partnerships. For example, a key partnership was formed between the DFC and the Inter-American Development Bank’s private sector arm, IDB Invest, to leverage their resources and market intelligence across Latin America. This partnership aims to streamline investment processes and promote transparency and competition.
Haroldo Espalter, President of the American Chamber of Commerce in Uruguay (AmCham Uruguay), discussed the commercial relationship between the U.S. and Uruguay. Coming from a private sector background as a lawyer, he emphasized the historical ties and current strong relations between the two countries, with AmCham celebrating
its 90th anniversary this year. However, he acknowledged challenges and highlighted the need to attract U.S. investments back to Uruguay.
Mosbacher argued that the U.S. needs to proactively market this initiative to Latin American governments and recruit U.S. businesses to participate in infrastructure projects, offering risk mitigation to encourage their involvement. This strategic approach is essential to counter China’s influence and enhance U.S.-Latin American economic relations, especially in the green energy sector, where China dominates in solar panels, wind turbines, EVs, and lithiumion batteries.
Laura Clavijo, Chief Economist of Bancolombia Group, emphasized the critical role of the private sector and investment. Despite sound macroeconomic policies that have weathered past crises, the region faces significant challenges, including reliance on commodities, low investment rates, and falling productivity. Specifically, in Colombia, investment as a percentage of GDP has dropped significantly, impacting economic growth. The private sector, particularly the financial sector, plays a crucial role in addressing these challenges through counter-cyclical measures and supporting social objectives like reducing inequality.
“Rapidness is of the essence... we cannot wait 10 years or five years; it has to be done now.”
HAROLDO ESPALTER
“If we want to regain some of the initiative, then I think what the United States has to do with Latin American partners is to go out proactively, affirmatively, and promote support for and financing of investments, particularly hard infrastructure.”
ROBERT MOSBACHER JR.
panel four
GREEN FUTURE
The Amazon Rainforest, which covers 40% of South America, is a hot spot of biocultural diversity and has more species of plants and animals than any other ecosystem. It is also one of the planet’s most threatened geographies due to unprecedented stressors of warming temperatures, deforestation, extreme drought, and dramatically altering rainfall patterns.
However, there is no green future without Amazonia.
Members of this panel discussed the multifaceted and urgent nature of the climate challenge in Latin America and the need for integrated, innovative solutions that engage all sectors of society. The challenge of climate change and sustainability in Latin America requires a comprehensive and integrated approach that addresses the interconnections between urban and rural areas, social issues, and economic growth.
João Biehl panelists moderated by
Juan Pablo Bonilla
Ramón Cruz
Mauricio Rodas
Miriam Medel García
With 60% of Latin American land already degraded, 45% irreversibly, and 80% of its population in urban areas, the region faces immense pressure on energy, water, food, and transportation systems, with outdated infrastructure exacerbating these challenges.
Despite these hurdles, Miriam Medel García, director of Strategy and Climate Policy at Onepoint5 and former Chief of the UN Convention to Combat Desertification, sees an opportunity to modernize and develop sustainable, climate-resilient infrastructure. However, this requires significant investment, estimated between $2.1 and $2.8 trillion by 2030, which national governments alone cannot cover. Thus, Garcia advocated for private sector involvement, emphasizing the need for profitable business models and regulatory frameworks aligned with international agreements like the Paris Agreement.
“I will not say green future; I will say green present because the problem is here now. The solutions are urgent, and we needed to have them in place yesterday.”
MIRIAM MEDEL GARCÍA
Juan Pablo Bonilla, Manager of Climate Change and Sustainable Development, IDB, underscored the importance of integrating sustainability with social agendas to combat poverty and inequality while enhancing private sector productivity. The IDB’s efforts focus on urban-rural linkages, energy, transportation, water, and social issues, aiming for a holistic transformation of the region. Bonilla mentioned successful initiatives like sustainability-linked bonds and debt-for-nature swaps in Barbados and Ecuador. The Amazon initiative, led by IDB, focuses on bioeconomy, urban and rural development, and digitalization to sustainably manage the region.
Panelists agreed that a successful “green future” requires the involvement of communities from the start. Mauricio Rodas, former Mayor of Quito, emphasized the pivotal role of cities, where 84% of Latin Americans live, in achieving climate goals. However, cities face significant infrastructure challenges due to climate
impacts, necessitating climate finance innovation. Cities need around $5 trillion annually to transform their infrastructure to become climate resilient, but face financial barriers due to a global financial system designed for countries.
Rodas advocates for financial innovation, such as a Green Cities Guarantees Fund, to enable cities to access international markets and finance climate projects. He also stresses the need to shift investment towards nature-based solutions, which are cost-effective and provide significant value.
Ramon Cruz added that adaptation presents a unifying opportunity for the region, as agriculture—a major export and highly vulnerable sector—necessitates regional cooperation. He also notes the middle-income trap, where Latin American countries are too wealthy to qualify for substantial international aid but too poor to fund necessary climate initiatives.
“We need to stop talking about the problem of the Amazon as just deforestation. It’s about people and what alternatives they have for a sustainable future.”
JUAN PABLO BONILLA
MICHAEL REID
Former Chief Americas Director of The Economist and London School of Economics Professor Razia Iqbal moderated by
keynote speaker
Michael Reid’s speech addressed the complexities and potential of Latin America, drawing on the insights of Albert Hirschman regarding the importance of identifying and tackling key developmental bottlenecks. Reid underscored the significance of pragmatic and targeted reforms, cautioning against the notion that everything in the region is disastrous. While acknowledging the positive aspects, he highlighted the region’s favorable international context, with opportunities in near-shoring and green supply chains. However, he also pointed out the internal divisions and the vicious cycle of economic stagnation, social frustration, and the discrediting of democratic politics, which reinforce each other.
Reid discussed the region’s economic challenges, noting that while macroeconomic policies have brought stability, there has been a chronic lack of growth due to poor productivity. He identified weak states, often captured by private interests and unable to enforce the rule of law, as a significant issue, exacerbated by the growing power of organized crime. He also addressed the erosion of democratic politics, with populism, polarization, and fragmentation undermining effective governance.
Despite these challenges, Reid emphasized the resilience of the region, both economically and politically. He highlighted the importance of political reform, suggesting that improved political systems and a stronger rule of law could unlock significant opportunities. Reid called for a reinvention of politics to adapt to the digital age and the dynamics of new generations, acknowledging that this is a complex and long-term task. He stressed that this effort will require the leadership of young people, who can navigate the new forms of political communication and organization necessary for effective governance. In conclusion, Reid said he believes that with better politics, Latin America has the potential to seize the many opportunities available, transforming the region’s future positively.
“The
region suffers from a vicious circle of economic stagnation, social frustration, and the discrediting of democratic politics, but it also possesses more resilience both economically and politically than often meets the eye.”
MICHAEL REID
H.E. MICHELLE BACHELET
former president of Chile Luis Carlos Vélez moderated by
Former Chilean President Michelle Bachelet delivered a keynote address emphasizing the need for Latin America to confront pressing issues with a holistic and inclusive approach. She highlighted the importance of listening and learning from diverse experiences to inform political actions. Bachelet stressed that the pandemic exacerbated existing inequalities, particularly affecting women, the elderly, disabled individuals, and marginalized communities. She underscored the critical role of education, noting that while progress has been made, the pandemic disrupted learning and widened gaps. Health improvements were acknowledged, yet Bachelet called for greater integration efforts, leveraging digitalization and technology to overcome barriers.
She discussed the persistent economic and social inequalities, pointing out the high levels of poverty and informal employment, especially among women. Bachelet emphasized the need for gender equality in the workforce, advocating for shared responsibilities in care work and the establishment of systems guaranteeing care as a right. Security was highlighted as a fundamental human right, with Bachelet calling for robust criminal justice systems and international cooperation to combat organized crime.
Democracy’s fragility was a major concern, with populism and far-right movements threatening democratic institutions. Bachelet warned against leaders who erode democracy and human rights. She addressed the critical issue of migration, noting the significant number of Venezuelan refugees and the pressures on host countries’ social systems. Lastly, Bachelet called attention to the triple planetary crisis of climate change, pollution, and biodiversity loss, urging for regional and global cooperation to address these challenges.
Bachelet concluded with a call to embrace the 2030 Agenda for Sustainable Development, advocating for bold, transformative actions to create a just, inclusive, and sustainable future. She emphasized that regional integration and cooperation, supported by multilateralism, are essential for Latin America’s progress and the global effort to secure a prosperous future for all.
“As a region, we must advocate for multilateralism that not only addresses immediate crises but also promotes sustainable development and social inclusion. We need to ensure that women are part of the discussion and are part of our proposals.”
H.E. MICHELLE BACHELET
panel five
GLOBAL COMPETITION IN THE REGION
Members of this panel focused on the geopolitical dynamics, challenges, and opportunities in Latin America, with the primary theme being the increasing geopolitical competition, particularly between the U.S. and China, with references to Russia and Iran. This competition encompasses economic, political, and security dimensions.
Brian Winter, vice president of Council of the Americas, and Ambassador Juan Gabriel Valdés, Ambassador of Chile to the United States and Former Minister of Foreign Affairs, emphasized the strategic non-alignment or neutrality many Latin American countries adopt to balance relations between major powers. The growing economic ties with China, driven by substantial trade volumes in exports like minerals and food, were noted by several speakers, highlighting the need for investment in critical sectors such as infrastructure and green energy.
Admiral Craig Faller
Brian Winter
Ambassador Carolina Barco panelists moderated by
Ambassador Juan Gabriel Valdés
Todd Robinson
Security concerns were prominent, with Admiral Craig Faller, former Commander of SOUTHCOM, and Todd Robinson, Assistant Secretary for International Narcotics and Law Enforcement, discussing the threats posed by transnational criminal organizations that challenge regional stability and economic development. There was a call for enhanced military and defense cooperation, including professional training and education, to counter these threats effectively. Corruption emerged as a significant issue undermining economic growth and governance, with speakers stressing the necessity of good governance and institutional integrity.
Regional integration and multilateralism were vital for addressing common challenges, leveraging collective strengths, promoting economic recovery, and fostering sustainable development. Social issues, such as gender equality and the inclusion of marginalized communities, were also discussed, underscoring the importance of
addressing social disparities for sustainable development. Upholding human rights and democratic values was highlighted as essential for regional stability and progress. These common themes reflect a comprehensive approach to understanding and tackling Latin America’s multifaceted challenges and opportunities, emphasizing
the interconnectedness of economic, political, security, and social dimensions.
“The advantage of the United States in the region is enormous. This is not a competition that began yesterday. We have had decades of association with the United States.”
AMBASSADOR JUAN GABRIEL VALDÉS
REGIONAL STABILITY AND MIGRATION
“No human leaves his or her country, loved ones, and family because they want to. It is because they feel threatened, insecure, and desperate. That’s why they choose to migrate, and in most cases, through very dangerous means.”
MARÍA FERNANDA ESPINOSA
This panel covered various aspects of migration and its impacts on both the Americas and the global community, emphasizing its deeply human nature and multifaceted challenges. Panelists underscored the need for coordinated, humane, and multifaceted approaches to migration, recognizing its deep human roots and its significant economic and social implications.
In May 2016, President Barack Obama delivered remarks at the G-7 Summit at IseShima, Japan, highlighting the challenges posed by uncontrolled migration to European
leaders. Obama emphasized the need for a sustainable approach to migration to avoid political backlash and societal strain and underscored the need for comprehensive and humane policy responses.
Ambassador Thomas Shannon, former Under Secretary of State for Political Affairs during the Obama Administration, said this seems quite prescient. Shannon underlined that migration is not a new phenomenon and has profoundly impacted societies, often for the better, despite the associated challenges. He stressed that migration is a shared issue across the
Americas, affecting cities throughout South and Central America.
Mark Feierstein, Former National Security Council Western Hemisphere Senior Director, echoed this sentiment, describing migration as one of the most challenging policy issues, compounded by legal constraints, political dynamics, and humanitarian concerns. He stressed the importance of balanced solutions that respect human rights while addressing root causes, noting that economic benefits often accompany migration.
Ambassador Martha Barcena, former Ambassador of Mexico to the United States, provided a perspective on Mexico’s experiences with migration, critiquing the political manipulation of the issue in the U.S. and emphasizing the need for comprehensive migration reform. She called for an approach that views migration as a social and economic phenomenon, not just a security issue. Barcena advocated for legal pathways for migrants, the regularization of undocumented workers, and investment in development programs to address the root causes of migration.
María Fernanda Espinosa, former president of the UN General Assembly and former Minister of Foreign Affairs and of Defense of Ecuador, focused on the desperation
that drives migration and the gendered aspects of the phenomenon, noting that 50% percent of migrants in Latin America are women, with significant numbers of unaccompanied children. She emphasized the need for better governance of migration to ensure the safety and dignity of those on the move. Espinosa advocated for a multilateral, hemispheric approach to migration, combining security, development, and human rights considerations to address migration’s root causes and effects.
Jason Marczak, vice president and senior director of the Adrienne Arsht Latin America Center, Atlantic Council, highlighted the personal nature of migration and its impact on individuals and communities. He noted the changing dynamics, with new immigrant gateway cities emerging and increasing migrants from countries outside the Americas. Marczak stressed the importance of integrating migrants into societies and economies, calling for better policies to facilitate this integration and recognizing the economic necessity of migration.
Barbara Buckinx panelists moderated by
Ambassador Thomas Shannon
Mark Feierstein
María Fernanda Espinosa
Jason Marczak
Ambassador Martha Barcena
panel seven
REGIONAL SECURITY AND ORGANIZED CRIME
Violent and organized crime has been a persistent issue in many Latin American societies for over a century. Panelists addressed two major issues: how to deal with states contributing to regional problems and how to support states that want to take action but face internal obstacles. The Panama Solution from the 1990s is no longer viable, so new approaches are needed.
Brian Nichols, Assistant Secretary for Western Hemisphere Affairs, addressed the fundamental issues facing the hemisphere: violence, transnational crime, and weak rule of law, which are symptoms of broader institutional deficiencies and lack of opportunities. He emphasized the need for comprehensive improvements across various systems to combat these challenges effectively.
Ambassador William Brownfield, former Assistant Secretary of INL and former Ambassador of the U.S. to Colombia,
Venezuela, and Chile, discussed the evolution of dealing with security threats in the hemisphere, suggesting that while past decades focused on guerrilla insurgencies, drug trafficking, and terrorism, the 21st century must address transnational organized crime (TOC). Venezuela, which Brownfield labeled a “TOC state,” is deeply influenced by organized crime, resulting in endemic corruption and instability.
TOC encompasses a wide range of criminal activities, from illegal mining and logging to cybercrime and human trafficking. Brownfield emphasized that these crimes are increasingly sophisticated, vertically integrated, and can undermine national institutions and governance, as evidenced by the situations in El Salvador, Haiti, and Venezuela.
Eddy Acevedo, chief of staff and senior advisor to the president and CEO of the Wilson Center, underscored the need for political will to combat organized crime,
citing the success of Plan Colombia due to strong political commitment from both Colombia and the U.S. Conversely, he criticized Mexican President Andrés Manuel López Obrado’s rollback of security cooperation, which diminished intelligence sharing and undermined previous progress.
Concluding, Nichols called for collaboration with public and international partners, the private sector, and educational institutions to deliver solutions that enhance people’s lives and tackle corruption, crime, and violence effectively.
Brian Nichols
Ambassador William Brownfield
Eddy Acevedo
Jacob Shapiro panelists moderated by
“Violent and organized crime has sadly been a fact of life in many Latin American societies for more than a hundred years… In recent years, we’ve seen illicit economies, criminal manpower, and political influence becoming dangerously relevant, even in countries recognized as relatively peaceful societies in the past.”
JACOB SHAPIRO
CENTRAL AMERICA: CHALLENGES AND OPPORTUNITIES
Panelists provided a holistic view of Central America’s challenges and opportunities, underscoring the need for strong institutions, inclusive policies, and international cooperation to address the region’s complex issues and harness its potential for growth and development.
María Antonieta del Cid, former president of the Guatemala Central Bank, discussed the economic and social dynamics of Central America, emphasizing the region’s potential and challenges. With a population of 50 million and a GDP of $300 billion, Central America boasts strategic advantages like its geographic location and free trade agreements with the U.S., EU, and other countries. The region has seen an average growth rate of 3.3% over the past 13 years, though economic policies vary significantly among countries.
Guatemala, the largest country in the region, has shown macroeconomic stability with steady growth, low public debt, and
panel eight
resilience to external shocks. However, it faces significant challenges, including insufficient economic growth, high poverty rates, low human development, and a large informal sector. Remittances play a crucial role in the Guatemalan economy, surpassing exports and fiscal revenue.
Rafael Barraza, former president of El Salvador Central Bank, described the political landscape in El Salvador, where President Bukele has gained overwhelming support, particularly from Salvadorians living in the U.S., due to his policies that have significantly reduced violence and improved security. Barraza shared his personal experience of visiting gangcontrolled zones and noted the dramatic positive changes, including reduced murder rates and increased local investment and community rebuilding.
While increased security, such as in El Salvador, is crucial, it alone does not suffice to attract foreign investment or drive
economic growth. Ambassador Frank Mora, the U.S. Ambassador to the Organization of American States (OAS), suggested exploring models beyond the Bukele approach to address these deep-rooted issues and ensure sustainable progress in the region.
Barraza also discussed the region’s broader economic and social issues, such as the strong economic connections with the U.S., weak institutions, and the challenges of achieving development and democracy. He pointed out the importance of underlying policies and institutional quality in addressing these issues and suggested that while Bukele’s approach has been effective in El Salvador, similar success in other countries may be hindered by different conditions and more powerful drug gangs.
panelists
moderated by
María Antonieta del Cid Navas
Rafael Barraza
Ambassador Frank Mora
Eduardo Bhatia
“Not only is democracy the central cog to the puzzle of addressing and taking advantage of opportunities, but as Ben Franklin once said, those who believe that gaining security means sacrificing freedom will get neither.”
AMBASSADOR FRANK MORA
panel nine
LATIN AMERICAN CULTURE
Mauro Castillo, a renowned Colombian singer, actor, composer, trombonist, and music producer, shared insights on Latin America’s rich musical heritage and its impact on the world. Castillo emphasized the transformative power of Latin American music and its role in shaping global perceptions of the region’s culture. He highlighted the importance of music as a soft power asset, noting how it transcends boundaries and fosters cultural exchange.
Growing up in Cali, Colombia, known as the world capital of salsa, Castillo witnessed his family’s resilience in building their community, which influenced his perspective on hard work and perseverance. Music has been an integral part of his life, from his upbringing in Cali to his current work in Florida. He highlighted how music has been a means of communication, expression, and community building for him.
Mauro Castillo
Gabriela Frías panelists moderated by
Castillo’s journey into music began during his mandatory military service in Colombia, where he joined a salsa band, using music to connect with and pacify troubled communities. He pursued formal education in music, studying opera to gain a deeper understanding of musical structures, which he found crucial for his development as an artist. His musical influences are diverse, ranging from opera to salsa, reflecting the rich cultural heritage of Latin America. He
encouraged curiosity and exploration of different musical genres to broaden one’s understanding and appreciation of music.
There are many challenges faced by aspiring musicians in Colombia, which Castillo discussed, emphasizing the need for access to formal education and opportunities. He also spoke about his involvement with the foundation La Puerta Music, which mentors young talents in salsa and other musical genres, leveraging technology to provide valuable resources and guidance.
Highlighting the success of “Encanto,” Castillo celebrated its impact on Afro-Latino representation and the recognition of Latin American culture globally. He stressed the importance of investment in creative industries to support diverse stories and voices. Castillo concluded with reflections on the evolving landscape of Latin American music, expressing optimism about its future and encouraging curiosity and exploration of one’s cultural roots.
“Music has the power to connect us, to tell our stories, and to bring us together. It’s a bridge between cultures and generations, and it can be a tool for peace and understanding. We need to invest in our young talents and give them the opportunities to share their voices with the world.”
MAURO CASTILLO
H.E. IVÁN DUQUE
former president
of Colombia Razia Iqbal moderated by
In his keynote speech, President Iván Duque discussed Latin America’s challenges and intricacies, calling for better political practices and stronger democratic institutions to navigate these issues effectively.
Focusing on the dual nature of Latin America, Duque highlighted its complexities and contradictions. He emphasized that Latin America operates in a VUCA environment—volatility, uncertainty, complexity, and ambiguity. Duque illustrated volatility by referencing the unforeseen impact of the war in Ukraine on Latin American agriculture and inflation. He noted the uncertainties brought by events like the COVID-19 pandemic and potential future pandemics exacerbated by climate change. He pointed out the complexities of natural disasters and their effects on the region’s economic and social projections.
Duque reflected on his tenure and the challenges faced during his presidency. He discussed his experience as Colombia’s youngest president in modern history and emphasized the importance of representing the younger generation. Duque explained that while he faced unpopularity during his presidency, he believed in making difficult but necessary decisions for the country’s long-term benefit. He cited his administration’s achievements, including
economic growth, foreign direct investment, and social reforms like increasing the minimum wage and providing free public university education for the poorest.
When asked about Colombia’s role in the green energy transition and investment policies, Duque highlighted the importance of stable and market-driven energy policies for attracting investment. He emphasized Colombia’s progress in increasing the share of non-conventional renewables in the energy matrix from 0.2% to 14% during his administration. Duque expressed concerns about recent populist policies that might undermine these achievements by removing incentives for renewable energy projects.
Addressing Colombia’s history of conflict, Duque differentiated between dealing with terrorist organizations and the need for justice to prevent impunity. He argued against granting political representation to those guilty of serious crimes, emphasizing the importance of accountability.
Duque also discussed global issues, noting the dangers of populism and the misuse of anger and hate to gain power. He called for bipartisan consensus and cooperation, especially in the context of U.S. politics, to ensure stability and progress in Colombia and beyond.
“Even though you can see evidence of the threats that our democratic system has and the risk that we are exposed to, the last 30 years in Latin America have been the best 30 years in Latin America’s economic and social history.”
