The Lima Conference, held on October 8, 2024, brought together over 150 investors to discuss key economic trends and investment opportunities in Latin America. Notable speakers included Julio Velarde, the president of the Central Reserve Bank of Peru (BCRP), who highlighted the success of Peru's monetary policy and recent legislative reforms aimed at fostering economic growth. Daniel Velandia, chief economist at Credicorp Capital, expressed optimism about the economic outlook for Latin America, while biologist Estanislao Bachrach provided insights into the role of artificial intelligence in various sectors. [ea1243c3]
In a related event, the Fortieth Session of the Economic Commission for Latin America and the Caribbean (ECLAC) concluded on October 11, 2024, in Lima, Peru. This session saw participation from 36 countries and featured a position document titled 'Development Traps in Latin America and the Caribbean: Vital Transformations and How to Manage Them.' José Manuel Salazar-Xirinachs, Executive Secretary of ECLAC, highlighted three critical development traps: low growth capacity, high inequality, and low institutional capacities. The session resulted in the approval of 14 resolutions, including the 'Lima Resolution,' which emphasizes the need for regional cooperation to address these challenges. Peru's Foreign Minister Elmer Schialer underscored the importance of collaborative efforts among nations to achieve sustainable development goals. The next ECLAC session is set to take place in the Dominican Republic in 2026. [bbb7f8bf]
The Lima Conference also covered a range of topics, including the performance of Andean stock exchanges and the mining sector, with executives discussing market trends for gold, copper, and zinc. Credicorp Capital's top equity picks were revealed to include Cencosud, a leading retail company, and Buenaventura, a prominent mining firm. Workshops focused on asset management and capital markets provided attendees with practical insights and strategies for navigating the investment landscape. [ea1243c3]
Additionally, the event featured one-on-one meetings with 60 participating companies, allowing investors to delve deeper into specific opportunities and build valuable connections. The next Lima Conference is scheduled to take place in Santiago, Chile, in 2025, promising to continue the dialogue on investment strategies and economic developments in the region. [ea1243c3]