U.S. Official To Explore Poverty-Reduction in Latin America

Treasury official to attend IDB meeting, other sessions in Brazil

The United States is committed to reducing poverty and expanding economic opportunities in Latin America, and Clay Lowery, the U.S. Treasury Department's assistant secretary for international affairs, will explore poverty-reduction efforts during an upcoming trip to Brazil.

Lowery will participate in the annual meeting of the Inter-American Development Bank (IDB) April 1-3, in Belo Horizonte, Brazil. In March 30 remarks in Washington, Lowery outlined priorities for the IDB meeting, as well as for other meetings he will have in Brazil.

Stimulating the development of small and medium-sized businesses in Latin America is among the highest priorities for the IDB, said Lowery. As the IDB seeks to engage the region's private sector more effectively and comprehensively, small and medium-sized enterprises will be a focus because "that's where job creation is," he added. Lowery said that the United States hopes participants at the upcoming IDB meetings will be able to establish a private-sector strategy, even if it is not a comprehensive one.

Another IDB priority, Lowery said, is the improvement of education and health care systems in the region. As part of this process, he said, the United States is working with IDB management to explore ways to reduce the debt levels of Latin America's poorest countries to free up necessary resources. Lowery said the United States has put forward its ideas on how debt reduction can work in a sound financial way, and he expressed hope that the IDB meeting will help forge a workable approach to debt reduction.

Lowery also will meet in Brazil with business leaders, infrastructure investors, small and medium-sized enterprise operators and other individuals focused on poverty reduction.

"I want to listen to folks that are in the region on what are they doing and how is it best to reduce poverty in Latin America," Lowery said. "We don't have all the answers, and we know that - and what we want to do is to listen to Latin Americans and see if they have different ideas ... and how can we assist with those ideas."

Source: U.S. Department of State

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