Latin American Economic Outlook 2022

Acronyms and abbreviations

AAs	Association Agreements
ACTO	Amazon Cooperation Treaty Organization
AECID	Spanish Agency for International Development Cooperation (Agencia Española de Cooperación Internacional para el Desarrollo)
AFD	French Development Agency (Agence Française de Développement)
AGESIC	National Digital Government Agency of Uruguay (Agencia de Gobierno Electrónico y Sociedad de la Información y del Conocimiento)
AICCA	Andes Adaptation to the Impact of Climate Change on Water Resources Project (Proyecto Adaptación a los Impactos del Cambio Climático en Recursos Hídricos en los Andes)
AILAC	Independent Association of Latin America and the Caribbean (Asociación Independiente de Latinoamérica y el Caribe)
ALBA	Bolivarian Alliance for the Peoples of Our America (Alianza Bolivariana para los Pueblos de Nuestra América)
ALMP	Active Labour Market Policies
AOSIS	Alliance of Small Island States
BAU	Business-as-usual
CABEI	Central American Bank for Economic Integration (Banco Centroamericano de Integración Económica)
CAF	Development Bank of Latin America (Banco de Desarrollo de América Latina)
CAIT	Climate Analysis Indicators Tool
CAT	Climate Action Tracker
CAPEX	Capital Expenditures
CARICOM	Caribbean Community (Comunidad del Caribe)
CBAM	Carbon Border Adjustment Mechanism
CBD	Convention on Biological Diversity
CBI	Climate Bonds Initiative
CCS	Carbon Capture and Storage
CCUS	Carbon Capture, Use and Storage
Cedefop	European Centre for the Development of Vocational Training
CEPII	Center for Research and Expertise on the World Economy (Centre d’Études Prospectives et d’Informations Internationales)
CfRN	Coalition for Rainforest Nations
CIEL	Center for International Environmental Law
CIT	Corporate Income Tax
CLEG	Combined List of Environmental Goods
CO2(e)	Carbon dioxide (equivalent)
CoG	Centre of Government
CONPES	National Council for Economic and Social Policy of Colombia (Consejo Nacional de Política Económica y Social)
COP	Colombian Peso
COP	United Nations Climate Change Conference
COVID-19	Coronavirus
CSOs	Civil Society Organisations
CVF	Climate Vulnerable Forum
DAC	Development Assistance Committee
DDPLAC	Deep Decarbonisation Pathways for Latin America and the Caribbean
DFID	United Kingdom Department for International Development
DNP	National Planning Department of Colombia (Departamento Nacional de Planeación)
DNS	Debt-for-nature Swap
EBA	Ecosystem-based approach
ECB	European Central Bank
EC-JRC	European Commission Joint Research Centre
ECLAC	United Nations Economic Commission for Latin America and the Caribbean
EEA	European Environment Agency
EESI	Environmental and Energy Study Institute
EFSD+	European Fund for Sustainable Development Plus
EIB	European Investment Bank
EIG	Environmental Integrity Group
EITC	Earned Income Tax Credit
Embrapa	Brazilian Agricultural Research Corporation (Empresa Brasileira de Pesquisa Agropecuária)
EMDEs	Emerging Markets and Developing Economies
EPR	Extended Producer Responsibility
ESG	Environmental Social and Governance
ESMAP	Energy Sector Management Assistance Program
ETS	Emission Trading System
EU	European Union
EUR	Euro
EVs	Electric Vehicles
FAO	Food and Agriculture Organisation
FEBRABAN	Brazilian Federation of Banks (Federação Brasileira de Bancos)
FDI	Foreign Direct Investment
FTAO	Fair Trade Advocacy Office
G20	Group of Twenty
GCF	Green Climate Fund
GDP	Gross Domestic Product
GEF	Green Environment Facility
GERD	Gross Domestic Expenditure in Research and Development
GGGI	Global Green Growth Institute
GGO	Global Gender Office
GHG	Greenhouse Gases
GIZ	German Agency for International Cooperation (Deutsche Gesellschaft für Internationale Zusammenarbeit)
GMI	Global Methane Initiative
GPS	Global Positioning System
GSS	Green, Social and Sustainability bonds
GSSE	General Services Support Estimate
GSSS	Green, Social, Sustainable and Sustainability-linked bonds
HDI	Human Development Index
HLPF	High-level Political Forum on Sustainable Development
HS	Harmonised System
ICMA	International Capital Market Association
ICZM	Integrated Coastal Zone Management
IDB	Inter-American Development Bank
IEA	International Energy Agency
IEEE	Spanish Institute for Strategic Studies (Instituto Español de Estudios Estratégicos)
IFC	International Finance Corporation
IFL	Intact Forest Landscapes
IFPRI	International Food Policy Research Institute
IFS	Institute for Fiscal Studies
IICA	Inter-American Institute for Cooperation on Agriculture
ILACC	Latin America and the Caribbean Carbon Market Initiative
ILO	International Labour Organization
IMF	International Monetary Fund
INED	French Institute for Demographic Studies (Institut national d'études démographiques)
INTPA	Directorate-General for International Partnerships
IDEA	International Institute for Democracy and Electoral Assistance
IOGP	International Association of Oil & Gas Producers
IPAC	OECD International Programme for Action on Climate
IPCC	Intergovernmental Panel on Climate Change
IPC-IG	International Policy Centre for Inclusive Growth
IRENA	International Renewable Energy Agency
IRP	International Resource Panel
ITF	International Transport Forum
IUCN	International Union for Conservation of Nature
LAC	Latin America and the Caribbean
LDCs	Least Developed Countries
LEO	Latin American Economic Outlook
LMDCs	Like-minded Developing Countries
LNG	Liquefied Natural Gas
LUCF	Land use, land-use change, and forestry
MAPA	Brazilian Ministry of Agriculture, Livestock and Food Supply (Ministério da Agricultura, Pecuária e Abastecimento)
MCTI	Ministry of Science and Technology of Brazil (Ministério da Ciência, Tecnologia e Inovações)
M&E	Monitoring and Evaluation
MENA	Middle East and North Africa
MERCOSUR	Southern Common Market (Mercado Común del Sur)
MIC	Middle-income Country
MINAE	Ministry of Environment and Energy of Costa Rica (Ministerio de Ambiente y Energía)
MINAM	Ministry of Environment of Peru (Ministerio del Ambiente)
MINURVI	Ministers and High-level Authorities of the Housing and Urban Development Sector in Latin America and the Caribbean (Ministros y Autoridades Máximas de la Vivienda y el Urbanismo de América Latina y el Caribe)
MNE	Multinational Enterprise
MoU	Memorandum of Understanding
MSMEs	Micro, Small and Medium-sized Enterprises
MSP	Maritime Spatial Planning
NAMA	Nationally Appropriate Mitigation Actions
NAP	National Adaptation Plan
NCP	National Contact Point
NDB	National Development Bank
NDC	Nationally Determined Contribution
NDICI	Neighbourhood, Development and International Cooperation Instrument
NDP	National Development Plan
NGO	Non-governmental Organisation
NIT	Negative Income Tax
OCHA	United Nations Office for the Coordination of Humanitarian Affairs
ODA	Official Development Assistance
OECD	Organisation for Economic Co-operation and Development
OPEC	Organisation of the Petroleum Exporting Countries
PCAB	Partnership for the Conservation of Amazon Biodiversity
PIT	Personal Income Tax
PPA	Partnership Platform for the Amazon
PV	Photovoltaics
(P) VAT	(Personalised) Value-added Tax
R&D	Research and Development
RBC	Responsible Business Conduct
RELAC	Renewables in Latin America and the Caribbean
REDD+	Reducing Emissions from Deforestation and forest Degradation
RICYT	Network for Science and Technology Indicators – Ibero-American and Inter-American
RST	Resilience and Sustainability Trust
SBFN	Sustainable Banking and Finance Network
SDGs	Sustainable Development Goals
SDR	Social Discount Rates
SDSN	Sustainable Development Solutions Network
SEGIB	Iberoamerican General Secretary (Secretaría General Iberoamericana)
SIDS	Small Islands Developing States
SINAMECC	National Climate Change Metrics System of Costa Rica (Sistema Nacional de Métrica de Cambio Climático)
SINARE	National System for the Reduction of Greenhouse Gas Emissions of Brazil (Sistema Nacional de Redução de Emissões)
SLB	Sustainability-linked Bond
SMEs	Small and Medium-sized Enterprises
SSC	South-South Co-operation
SSTC	South-South and Triangular Cooperation
STI	Science, technology and innovation
TFP	Total Factor Productivity
TPI	Transmission Protection Instrument
TrC	Triangular Co-operation
UK PACT	United Kingdom Partnering for Accelerated Climate Transitions
ULB	Free University of Brussels (Université libre de Bruxelles)
UN	United Nations
UNCCD	United Nations Convention to Combat Desertification
UNCTAD	United Nations Conference on Trade and Development
UNDESA	United Nations Department of Economic and Social Affairs
UNDP	United Nations Development Programme
UNECA	United Nations Economic Commission for Africa
UNECE	United Nations Economic Commission for Europe
UNEP	United Nations Environment Programme
UNESCO	United Nations Educational, Scientific and Cultural Organization
UNFCCC	United Nations Framework Convention on Climate Change
UNIDO	United Nations Industrial Development Organization
UNWTO	United Nations World Tourism Organization
USAID	United States Agency for International Development
USD	United States Dollar
VAT	Value Added Tax
VNR	Voluntary National Reviews
WEF	World Economic Forum
WHO	World Health Organization
WIN	Worldwide Independent Network of Market Research
WIR	World Inequality Report
WMO	World Meteorological Organization
WRI	World Resources Institute
WTO	World Trade Organization
WWF	World Wide Fund for Nature