Regional inequality expanding as billionaires multiply

THE NUMBER of rich people in Latin America who have accumulated more than a billion dollars grew by 38% in the last year up from 111 to 153 becoming the highest growth rate in the world for the rich.

But: “Inequality is not accidental nor inevitable nor irreversible. The downside is that it is getting worse says a report “Stop the extreme inequality” presented Thursday Nov 14 at a Oxfam Intermón journalism forum in Panama.
The paradox is that although many people have escaped poverty they remain in their position of economic vulnerability, which prevents them from being part of the middle class. The situation is aggravated by the slowdown in most economies in the region. According to ECLAC, Panama will grow 7% in 2014; Last year, the figure was 8.4%.
There is also the issue of schooling: while the “upper classes” complete on average 15 years of education, “the poor barely finish primary school.”
In 2012, according to the report 20% of the richest people in the region reached almost 12 years of schooling; in contrast, the poorest 20% studied for just 5.5 years.
Rebeca Arias, the United Nations Program for Development (UNDP) announced that reducing inequality will be included in the objectives of the development agenda post 2015.