OECD.org

Latin America and the Caribbean’s (LAC) GDP will shrink by between 0.9% and 1% in 2016, according to the latest estimates, the second consecutive year of negative growth and a rate of contraction LAC has not seen since the early 1980s. The region should recover in 2017, but with modest GDP growth of between 1.5% and 2%.

Panama signed today the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, the world’s leading instrument for boosting transparency and combating cross-border tax evasion. The signing shows that Panama is now implementing its commitment to fully cooperate with the international community on transparency.

Indonesia has undergone an extraordinary transformation over the past two decades that has lifted millions out of poverty and allowed important progress in areas such as health and education. But low levels of public spending and tax revenue are undermining the quality of social services and exacerbating infrastructure gaps.

Economic and social reforms undertaken over the past two decades have driven Peruvian efforts to achieve economic growth and important reductions in poverty. Peru will need to diversify its economy, boost skills, reinforce productivity across the labour force and unleash the potential of all regions in order to spur more inclusive national growth.

Young people who leave school at 16 with low skills are facing increasing challenges in finding a job, and their chances may not improve even if the economy picks up, according to a new OECD report.