The Caribbean and Latin America are closing a year marked by economic gains, but the region remains exposed to external shocks, Inter-American Development Bank President Luis Alberto Moreno said in a year-end report.In recent remarks to the IDB’s Board of Executive Directors,Cheap Nike Shox, Moreno summarized the region’s challenges, the institution’s performance over the past year and its priorities going forward.Although uncertainty in international markets reduced the rate of the global recovery during 2011, Latin America and the Caribbean averaged a 4.3 percent economic growth rate. Capital inflows to the region’s largest countries reached a record $354 billion. The percentage of the region’s population in poverty continued to fall,Cheap Jerseys 2018, dropping to about 30.4 percent. Urban unemployment also dipped, to 6.9 percent.“The region is on the right path,” Moreno said. “We have stronger economies with solid foreign exchange positions, low levels of indebtedness and a sound and well-regulated financial sector. We also have democratic governments that are increasingly effective in reducing structural poverty, expanding the coverage of public services and in building infrastructure.”However, Moreno added, Latin American and Caribbean nations should not be satisfied with their strong performance over the past few years. The region’s outlook is still vulnerable to external factors such as the European financial crisis, the U.S. fiscal deficit or a deceleration of the Chinese economy.“Although we have reasons to feel good about what we have done, I want to emphasize that the task is not complete. The risks are there and we still have a long to-do list for the region to strengthen its achievements and keep moving forward,” Moreno noted.“Our worst enemy is complacency. To think we can lower our guard and diminish our drive for reform would be an unforgivable mistake.”As an institution devoted to development,Wholesale Jerseys, the IDB must focus on priority issues, taking a long-term view. In his message to the Board of Executive Directors, which represents the Bank’s 48 member countries, Moreno listed some of the biggest challenges the region faces, issues that will determine the institution’s working agenda over the coming years.Increasing productivity is one of the region’s strongest imperatives. Among the problems hindering its progress are the poor quality of education, insufficient spending on scientific research and technological development, and a big backlog in terms of infrastructure.“Although investments have increased in recent years, they are still not enough to put us on? par with other emerging economies,NFL Jerseys Cheap,” he emphasized.In terms of social policy, Moreno said Latin America and the Caribbean should not lose their capacity to innovate in social programs or to take on issues such as informal employment. The region should also learn the lessons from the European crisis, such as the need to build financially sustainable social security systems, including pensions and health care programs.Another challenge the region must address is the fight against violence, crime and corruption, Moreno added. Countries should also strive to set a sustainable development agenda in light of climate change. “Regardless of the difficulties in reaching a global consensus, we can show the rest of the world that the people of Latin America and the Caribbean are capable of progressing responsibly towards the adoption of sustainable approaches,” he said.The IDB in 2011The IDB approved 162 operations with financing totaling more than $10.8 billion and disbursed nearly $8.3 billion. These totals confirm its role as one of the leading multilateral sources of financing for Latin America and the Caribbean, particularly for the smaller and more vulnerable nations, which will receive 36 percent of the financing approved this year.In terms of sectors, infrastructure and environment-related projects represented 61 percent of the approved financing; institutional capacity building and finance projects accounted for 29 percent; nine percent came under the heading of social programs; and trade and integration projects made up one percent of the total.Non-sovereign guaranteed operations, which finance projects by private sector companies and banks,Cheap NFL Jerseys, totaled $1.44 billion.In his report Moreno highlighted the progress achieved in the implementation of reforms agreed under the IDB’s Ninth General Capital Increase,Wholesale Stitched NFL Jerseys, which are aimed at improving the institution’s efficiency and transparency.As examples, he noted the Bank’s stren

Food prices remained virtually steady in April after falling in March following eight months of successive increases,Cheap Authentic NFL Jerseys, Food and Agriculture Organisation announced yesterday.However, while the FAO Food Price Index averaged 232 points in April, little changed from March,Supply NFL Jerseys, it was still 36 percent above April 2010 and only two percent below its peak in February 2011.A fall in sugar prices and a decline in rice helped stabilize the index, but international prices of nearly all other food commodities remained firm.“A sliding dollar and increased oil prices are contributing to high food commodity prices, particularly grains,” said David Hallam Director of FAO’s Trade and Market Division. “With demand continuing strong, prospects for a return to more normal prices hinge largely on how much production will increase in 2011 and how much grain reserves are replenished in the new season.”There was little change in the index because although international grain prices increased sharply in April,Wholesale China Jerseys, the rise was more than offset by declines in dairy, sugar, and rice,NFL Jerseys Wholesale, while oils and meat prices were mostly unchanged.The FAO Cereal Price Index averaged 265 points, up 5.5 percent from March and 71 percent from April 2010. Maize prices rose 11 percent and wheat increased four percent in April 2011 as a result of unfavourable weather and planting delays. But large export supplies kept rice prices under downward pressure.The FAO Oils/Fats Price Index, which had fallen by seven percent in March, was nearly unchanged in April.The FAO Sugar Price Index averaged nearly 348 points,Cheap Jerseys For Sale, down seven percent from March and 17 percent below its January record.The FAO Dairy Price Index averaged 229 points, down 2.4 percent from March. A good start of the northern hemisphere season has kept prices from rising after seven months of steady growth.The FAO Meat Price Index, although at a record level,Wholesale Stitched Jerseys, remained stable as compared to a revised estimate of 172 points in March.Latest indications point to a recovery in world cereal production in 2011 in response to high prices providing more normal weather conditions prevail. World wheat production is expected to increase by 3.5 percent and rice by three percent.But world cereal stocks for the crop seasons ending in 2011 are forecast to decline to their lowest level since 2008, mostly due to depleting coarse grain inventories. Global wheat inventories are forecast to decrease too, but the wheat stock-to-use ratio will remain relatively comfortable, while rice inventories are even expected to rise.“Although the early outlook for cereal production in 2011 is good, weather in the coming months will be critical,” said FAO grain analyst Abdolreza Abbassian.” Production prospects for 2010 were extremely favourable at this time last year but unfavourable weather conditions between July and October changed that outlook drastically.“Among all the cereals, maize is the most worrisome,” Abbassian noted.? “This year we would need above-average, if not record, yields in the United States for the maize situation to improve but maize plantings so far have been delayed considerably due to cool and wet conditions on the ground.”