the mif blog

Public-private partnerships (PPPs) to build and maintain infrastructure are no longer just for big economies in traditional sectors, involving projects such as toll roads and ports. Small economies and regional and local government are realizing the potential of engaging the private sector in infrastructure projects. Now, innovation is creeping into PPPs.

By Allyse McGrath, Senior Associate, Center for Financial Inclusion at Accion

Developing countries are aging at a rapid rate, and Latin American countries are a particularly strong example of this trend. In Peru, for example, the ratio of people over the age of 65 will jump from 1 in 10 to 1 in 4 by 2050. This demographic shift represents both a great challenge and a great opportunity, particularly in the field of financial services. 

By Elena Heredero Rodriguez and Claudio Cortellese

The focus of the initiative New Employment Opportunities for Youth (NEO) is simple: to help 1 million young people in Latin America and the Caribbean prepare for the job market and find a first good job. The initiative sets out to achieve this by creating multi-sector partnerships with stakeholders in education, job training, and businesses. The theory is that together, they will address problems of youth unemployment, young people’s lack of work skills, and employers’ need for skilled workers. The goal is simple but the strategy to achieve it is not; the problem is complex, and difficult to address from a single perspective. It requires a systemic approach.

How did you come to work today? In many cities in Latin America, a commute takes more than one hour. In Sao Paulo, the average worker needs 63 minutes to get to work. For many in metropolises such as Mexico City, Bogotá, Lima, or Santiago, spending two precious hours to get to and home from work is not a rarity. Every year, there are twice as many cars registered in Mexico City than babies born. But public transport and urban infrastructure have not developed at the same pace as economic growth.

So, are you really saving for your retirement? Don’t worry, you don’t have to answer. Nonetheless, today across the globe there is a significant (more like worrisome) percentage of the population NOT saving for their retirement. It is estimated that in a developed nation like the United States, more than 36% of the population has no savings for retirement.