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Settling Investment Disputes Would Boost Latin America’s Economic Recovery
Most governments need to improve their reputation and business climate, positioning their countries for an investment-led revival. Busy shopping streets in Sao Paulo, Brazil. Cris Faga/NurPhoto via Getty Images
As the world struggles to emerge from the COVID-19 pandemic, Latin American governments are missing opportunities to attract foreign investors crucial to an eventual economic rebirth. One of them is to settle old investment disputes sooner rather than later.
Latin America was the world’s only region to register zero economic growth in 2019, on average. Then it experienced the largest relative drop in real GDP of pandemic-driven 2020 – a collapse of at least 7% versus an emerging-markets average contraction of less than 3%. Chances are that the nature of the ongoing recovery will be neither inclusive nor sustainable, with the return to mediocrity featuring mostly jobs created in the undergr