[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-111698-en":3,"doc-seo-111698-105":29,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},111698,1099514067415,"Rowan","https://ap-avatar.wpscdn.com/avatar/100002539d78ffe74a7?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779092875211072502",8,"Research & Report","Statement by H.E. Nicolás Grau at the 112th Meeting of the Development Committee - October 16, 2025","Statement delivered by H.E. Nicolás Grau, Minister of Finance of Chile, on behalf of Argentina, Bolivia, Chile, Paraguay, Peru, and Uruguay at the 112th Meeting of the Development Committee on October 16, 2025. The statement highlights persistent development obstacles in Latin America and the Caribbean, including low investment, weak human capital accumulation, low regional integration, inequality, high poverty, and labor market informality. It emphasizes the WBG Jobs Agenda and the need for coordinated progress across infrastructure, regulatory reforms, and private resource mobilization, supported by governance improvements, knowledge sharing, and institutional strengthening.","Public Disclosure Authorized Public Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committee  \nof the  \nBoards of Governors ofthe Bank and the Fund  \non the  \nTransfer of Real Resources to Developing Countries)  \nONE HUNDRED AND TWELFTH MEETING WASHINGTON, DC-OCTOBER 16, 2025  \nDC/S/2025-0041 October 16, 2025  \nStatement by  \nH.E. Nicolás Grau  \nMinister of Finance  \nChile  \nOn behalf of Argentina, Bolivia, Chile, Paraguay, Peru, and Uruguay  \nStatement by  \nH.E. Nicolás Grau  \nMinister of Finance  \nChile  \nOn behalf of Argentina, Bolivia, Chile, Paraguay, Peru, and Uruguay  \n112th Meeting of the Development Committee  \nOctober 16, 2025  \nWashington, DC  \nLatin American countries continue facing challenges in achieving sustained economic growth. Over the past six decades, the average annual growth rate in Latin America and the Caribbean (LAC) was 1.8%, compared to 2.6% in advanced economies and 4.6% in emerging Asia. While Latin America is a diverse region, encompassing High-Income Countries (HICs) as well as Upper and Lower Middle-Income Countries (MICs), it faces persistent development challenges, including stagnant productivity, low investment, insufficient human capital accumulation, low levels of intraregional integration, and vulnerability to economic shocks, especially those triggered by commodity price fluctuations and extreme weather events, such as droughts and floodings. The region remains one of the most unequal globally. Inequality is a persistent challenge for Latin America, manifesting in wage gaps, regional disparities, and marginalized populations. In addition, poverty rates are high, with approximately one in four people living in poverty. Strengthening institutions, streamlining regulations, and enhancing governance will help overcome economic and social challenges.  \nMore than half of the population in Latin America have informal jobs, reducing productivity, exacerbating job insecurity, shrinking the tax base, and weaking social protection systems. The quality of employment has stagnated over the past decade. Gender and generational disparities add to labor market challenges. Women's participation in the labor market is significantly lower than men's, alongside an unequal distribution of care responsibilities. The labor market situation is especially concerning for young people, as their average unemployment rate is three times that of adults, and six out of ten young workers are employed in informal jobs. Young women in Latin America face even greater challenges, with higher unemployment rates than their male counterparts. These trends represent a critical underutilization of human capital, weakening the region’s future economic prospects, and with broader implications, including increasing migration, social unrest, and organized crime.  \nIn this context, we welcome the DC paper \"Foundations for Growth and Jobs\", which provides a detailed overview of the first pillar ofthe WBG Jobs Agenda presented in the 2025 Spring Meetings. Successfully implementing the WBG Jobs Agenda requires a holistic approach, recognizing that sustainable quality job creation depends on the interconnected progress of all three pillars. Foundational infrastructure (Pillar 1) alone is insufficient, concurrent regulatory reforms (Pillar 2) and mobilization of private resources (Pillar 3) are also essential. Advancing on these fronts in parallel creates the necessary conditions for job creation and economic growth, ensuring that infrastructure investments are supported by policy certainty and adequate financial resources. We also acknowledge the important role of the High-Level Advisory Council on Jobs, co-chaired by Tharman Shanmugaratnam, President of the Republic of Singapore, and Michelle Bachelet, former President of the Republic of Chile, in providing strategic guidance to this agenda.  \nAs mentioned in the DC paper, the implementation of the Evolution Roadmap is setting the framework fora more efficient and e","cbCaiswYZZWlf0h1","https://ap.wps.com/l/cbCaiswYZZWlf0h1","pdf",185968,1,6,"English","en",105,"# Key regional challenges\n## Economic growth, productivity, and inequality\n## Labor market informality and youth employment\n# Jobs Agenda and implementation priorities\n## Foundations for Growth and Jobs\n## Pillars and cross-cutting reforms\n# Institutional evolution and knowledge strategy\n## Evolution Roadmap and pending activities\n## Knowledge sharing for job creation","[{\"question\":\"Which countries does Nicolás Grau represent in this statement?\",\"answer\":\"He speaks on behalf of Argentina, Bolivia, Chile, Paraguay, Peru, and Uruguay.\"},{\"question\":\"What main challenges for Latin America are highlighted in the statement?\",\"answer\":\"The statement stresses stagnant productivity, low investment, weak human capital accumulation, low intraregional integration, vulnerability to shocks, persistent inequality, high poverty, and widespread informality in jobs.\"},{\"question\":\"How does the statement connect job creation to the WBG Jobs Agenda?\",\"answer\":\"It argues that sustainable, quality job creation requires coordinated progress across all three Jobs Agenda pillars—foundational infrastructure, regulatory reforms, and mobilization of private resources—supported by governance strengthening and knowledge sharing.\"}]",1784491316,15,{"code":4,"msg":30,"data":31},"ok",{"site_id":24,"language":23,"slug":32,"title":13,"keywords":33,"description":14,"schema_data":34,"social_meta":86,"head_meta":88,"extra_data":90,"updated_unix":27},"statement-by-he-nicolas-grau-at-the-112th-meeting-of-the-development-committee-october-16-2025","",{"@graph":35,"@context":85},[36,53,68],{"@type":37,"itemListElement":38},"BreadcrumbList",[39,43,47,50],{"item":40,"name":41,"@type":42,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":44,"name":45,"@type":42,"position":46},"https://docshare.wps.com/document/","Document",2,{"item":48,"name":12,"@type":42,"position":49},"https://docshare.wps.com/document/research-report/",3,{"item":51,"name":13,"@type":42,"position":52},"https://docshare.wps.com/document/statement-by-he-nicolas-grau-at-the-112th-meeting-of-the-development-committee-october-16-2025/111698/",4,{"url":51,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":23,"description":14,"dateModified":61,"datePublished":62,"encodingFormat":60,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":40,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-20","2026-07-19",true,{"@type":65,"interactionType":66,"userInteractionCount":20},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"Which countries does Nicolás Grau represent in this statement?","Question",{"text":75,"@type":76},"He speaks on behalf of Argentina, Bolivia, Chile, Paraguay, Peru, and Uruguay.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"What main challenges for Latin America are highlighted in the statement?",{"text":80,"@type":76},"The statement stresses stagnant productivity, low investment, weak human capital accumulation, low intraregional integration, vulnerability to shocks, persistent inequality, high poverty, and widespread informality in jobs.",{"name":82,"@type":73,"acceptedAnswer":83},"How does the statement connect job creation to the WBG Jobs Agenda?",{"text":84,"@type":76},"It argues that sustainable, quality job creation requires coordinated progress across all three Jobs Agenda pillars—foundational infrastructure, regulatory reforms, and mobilization of private resources—supported by governance strengthening and knowledge 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