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Op-Ed: The need to reduce political polarization: new social contract or consensus on specific policies?

  December 19, 2022

By Luis Porto

Latin America and the Caribbean face multiple challenges. At the structural level, these include climate change, the scientific-technical revolution, inequality, diversification for productive development, migratory flows, problems of citizen security and organized crime, and the need to strengthen democratic institutions. In addition, at the current juncture, there are economic challenges such as inflation, the increase in informality and indebtedness, and social challenges such as dissatisfaction with democracy, protests and potential conflict. These challenges are related to external shocks and uncertainties that the region faces with multiple vulnerabilities2 and building resilience becomes a necessity.

The development of resilience capacities requires investment, and investors will not invest if uncertainty is high. This is another vicious circle in which the region is embedded, and one that can be broken. The formula is as obvious as it is difficult. The obviousness is that in a framework of uncertainty, the political system must offer predictability. The difficulty is that the political systems in the region are sick of polarization.

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Full Op-Ed available here.

Reference: S-029/22