Creating Opportunities and Building Resilience: Priorities for a Sustainable Recovery: The IDB Group in the Central American Isthmus and the Dominican Republic: Activities Report 2022.
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In 2022, the Central American region and the Dominican Republic expected to continue its path towards economic recovery that it had begun in 2021. However, new external shocks interrupted these prospects. In particular, the disruptions in supply chains as a result of COVID-19, the increases in international food and energy prices as a result of the war in Ukraine, and the lagged effects of extraordinary liquidity measures during the pandemic, accelerated inflation and slowed economic growth. Furthermore, the gaps in poverty, access to services, and employment have increased after the pandemic, jeopardizing the social gains made in recent years. The increased frequency and impact of recent crises presents an opportunity to rethink growth strategies with multidimensional, resilient, and people-centered growth. From this perspective, the Bank has deployed its support to the region in recent years, with interventions in different sectors, but with the common goal of improving people's well-being. The IDB Group approved more than US$4.1 billion in 2022 to continue its support for the provision of basic services, especially for vulnerable populations; productivity, with an emphasis on MSMEs and the agricultural and tourism sectors; the transparency of governments; and environmental sustainability and response to natural disasters. This report highlights the main activities of the Group in Central America and the Dominican Republic during 2022, regionally and by country.