July 30, 2021

The World Bank urges Latin America to improve the quality of education to gain productivity

The World Bank urges Latin America to improve the quality of education to gain productivity

The World Bank (WB) today urged the countries of Latin America and the Caribbean to improve the quality of education of their nations to achieve greater labor productivity in the future, a finding that emerges from the first Human Capital Index (ICH) elaborated by the organism.

Despite the challenges facing the region, most Latin American countries are in the middle of the ICH global ranking, which was published today for the first time and aims to be an annual indicator.

Chile, the best ranked in the region, occupies the 45th position globally, with a score of 0.67 out of 1, followed by Costa Rica (57), Argentina (63), Mexico (64) and Ecuador (66) .

"This means that a child born today in Chile will have 67% of the labor productivity that could have if he had full health and a high quality education," said the director of education of the BM, in a call with journalists. Jaime Saavedra.

In contrast, countries such as Haiti (112), Guatemala (109) and Honduras (103) are in the lower area of ​​the list.

The report, presented today in Bali in the framework of the Annual Assembly of the International Monetary Fund (IMF) and World Bank, determines that the students of the region "have a low performance in all the subjects evaluated under the Program for the International Evaluation of the Students (PISA, for its acronym in English) ".

"Latin America has made significant progress in terms of human development in the last 25 years, but there is still much to be done to improve the quality of education," WB vice-president Jorge Familiar said in a statement.

In addition, Familiar considered that the region should progress in aspects such as providing adequate work skills to help future generations to succeed in life and promote female participation in the workforce.

The expert stressed, however, that Latin America registered a good result in the indicators that measure the conditions of child health and that it has a high survival rate in adult life, as well as relatively low levels of stunting.

On the other hand, Saavedra considered that it is "very important" that countries invest in the development of human capital, a problem that pointed "must be faced by governments in a comprehensive manner, not only by the Ministries of Health and Education."

"The finance and economy ministers have to be extremely concerned about the low levels of human capital because it will have a very serious impact on future growth prospects," concluded Saavedra.


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