United Nations Economic Commission for Latin America and the Caribbean

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United Nations Economic Commission for Latin America and the Caribbean

A commission established by the United Nations to foster economic and other cooperation among Central, South American and Caribbean states. Interestingly, members include North American and Western European countries as well. It was founded in 1948.
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While deforestation is a global problem, Latin America's rate of loss--0.5% annually--is twice that of the world's average, according to a recent study by the Economic Commission for Latin America and the Caribbean (ECLAC).
Consumer prices nationally are forecast to decline, in fact, to 1.4% by 2006, an inflation rate that the Economic Commission for Latin America and the Caribbean characterizes as that of a developed economy.
Alejandro Flamos, an economist with the Economic Commission for Latin America and the Caribbean, disagrees.
Even though economic growth in Latin America has improved to 4.5% in 2004 (from a negligible 1.5% in 2003), regional unemployment remains high at 10%, according to the United Nations Economic Commission for Latin America and the Caribbean.
The United Nations Economic Commission for Latin America and the Caribbean says Trinidad and Tobago's economy will grow 6% in 2004 from 2003, more than any other year since 1996.
It is estimated that 70% of the richest Latin Americans will have Internet access in 2004, versus a 10% estimate in the region as a whole, according to the Economic Commission for Latin America and the Caribbean. As hardware costs shrink because of competition, software prices are an increasingly large slice of the cost of buying and maintaining a home computer.
A 21% drop last year in long-term foreign investment in Latin America and expectations for another 10% decline in 2001, according to the United Nations Economic Commission for Latin America and the Caribbean. But not all the news is gloomy: Foreign investment rose in Mexico last year to US$13 billion, up $1.2 billion from 1999.
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