October 17, 2024, New York – On the occasion of the International Day for the Eradication of Poverty, the United Nations Development Programme (UNDP) and CAF – the Development Bank of Latin America and the Caribbean – made an urgent call to revitalize the fight against poverty and resume this challenge as a priority on the regional public and political agenda during the hybrid event "Reimagining Solutions to Poverty."

Despite progress in poverty reduction in past decades, 181 million people still live in monetary poverty, and more than 38 million suffer from multidimensional poverty, experiencing deprivations in education, health, and living standards. 

The event emphasized that multiple crises – such as the pandemic, climate change, and migration tensions – have slowed progress and diverted attention from this crucial issue. It highlighted the need to strengthen coordination among governments, the private sector, and civil society, and called for efforts to reintegrate poverty debate at the center of public discussion. Policies in areas such as climate change, productivity, and economic development must explicitly align with poverty reduction goals, avoiding fragmented approaches.

The panel featured Michelle Muschett, UNDP Regional Director for Latin America and the Caribbean; Sergio Díaz-Granados, CAF Executive President; Wellington Días, Brazil's Minister of Social Development; Luis Felipe López-Calva, Global Director for Poverty and Equity at the World Bank Group; Sabina Alkire, Director of Oxford's Poverty and Human Development Initiative (OPHI); and Jeffrey Sachs, Economist at Columbia University. They addressed the major obstacles facing Latin America and the Caribbean in poverty eradication and analyzed the data from the Multidimensional Poverty Index for the region.

"Poverty reduction and inequality are still among the main historical challenges faced by Latin America and the Caribbean. We need to join efforts between the public and private sectors, development banks, and civil society to promote a sustainable economic growth that leaves no one behind, incentivizing productivity, labor formality, research and development, while successfully navigating the triple transition: energy, digital, and environmental," said Sergio Díaz-Granados, CAF Executive President.

"It is essential to put the dignity of people living in poverty back at the center of Latin America's public agenda and policies. Poverty eradication cannot wait. The region can and must drive a second generation of innovative, integrated, and sustainable poverty solutions that allow us to move forward with resilience towards more prosperous, equal, and inclusive societies for all," said Michelle Muschett, UNDP Regional Director for Latin America and the Caribbean.

The event concluded with a call to develop sustained and efficient solutions to reduce poverty in a context of limited economic growth. Panelists highlighted the importance of complementing conditional cash transfers with more innovative approaches, strengthening national policies in areas such as social protection, employment, and gender equality. They also emphasized the need to improve data collection and analysis to effectively guide public policies and tailor interventions to the specific needs of each country.

During the event, UNDP and CAF announced the Annual Poverty Conference, which will take place in October 2025. The conference will bring together experts, political leaders, academia, and civil society to exchange experiences, evaluate progress, and explore new strategies in the fight against poverty. This event will not only seek to reimagine solutions but ensure they are sustainable and generate long-term impacts, in line with the Sustainable Development Goals.

Looking ahead to the 2025 Annual Poverty Conference, this critical dialogue is expected to continue, renewing commitments from all stakeholders to draft a path towards poverty eradication in the region.

For more information and media inquiries, please contact:

UNDP: vanessa.hidalgo@undp.org 

CAF: rvalls@caf.com 

About UNDP

UNDP is the agency of the United Nations system in the fight to eradicate the injustice of poverty, inequality and climate change. By collaborating with our extensive network of experts and partners in 170 countries, we help countries create consensus, integrated and lasting solutions for people and the planet. www.undp.org/latinamerica

About CAF

CAF -development bank of Latin America and the Caribbean- has the mission of promoting sustainable development and regional integration, through the financing of public and private sector projects, the provision of technical cooperation and other specialized services. Established in 1970 and currently made up of 21 countries - 19 from Latin America and the Caribbean, along with Spain and Portugal - and 13 private banks, it is one of the main sources of multilateral financing and an important generator of knowledge for the region. More information at www.caf.com.