LIMA, Aug. 4 (Xinhua) -- The immediate priority for Latin American countries should be guaranteeing long-term economic growth, said Augusto de la Torre, the World Bank's chief economist for Latin America and the Caribbean, in an interview with Xinhua.
He stated that there were a lot of new challenges, one of these being long-term growth, as Latin America continues to be a region of extended low economic growth.
The World Bank official was in Lima for a conference on economic diversification. He warned that Latin America must break its dependence on raw materials to enter the global economy of the 21st century.
"There is a need for a production capacity, an innovation capacity, a training capacity, of new business lines, of integration with international markets," explained de la Torre.
He also stated that Latin American countries needed to develop laws to better protect workers as well as training them to adapt to changes of the modern economy.
In recent years, certain countries have been active in this area and have tried to reduce poverty and the income gap, according to the senior official.
"I feel that the region has shifted its priorities from macro-economy to productivity and social protection," expressed de la Torre.
He stated that Latin America faced numerous challenges, including stabilizing the macro-economy, avoiding financial crises and building a robust macro-economic political system.
De la Torre also highlighted certain social programs in the region to combat poverty, as "the region is learning how to better act...in terms of policies focused on the poor."
