World Bank's Carlos Felipe Jaramillo on Three Key Areas of Reform to Boost Job Growth and Creation

Why It Matters

These reforms are essential for harnessing AI-driven growth, expanding employment, and maintaining regional competitiveness.

Key Takeaways

• Prioritize infrastructure, especially digital, to unlock AI-driven growth.
• Reform business regulations to foster competition and entry of small firms.
• Reduce dominance of large private or state-owned enterprises for job dynamism.
• Invest in skills training aligned with emerging technologies and AI.
• World Bank emphasizes coordinated reforms across infrastructure, regulation, and skills.

Summary

World Bank economist Carlos Felipe Jaramillo outlined three priority reforms—physical and digital infrastructure, business regulation, and skills development—to accelerate job creation across the region.

He warned that despite recent infrastructure gains, gaps persist, especially in digital networks essential for AI adoption. Simultaneously, entrenched large private firms and state‑owned enterprises crowd out competition, limiting opportunities for small and medium‑sized enterprises that are the primary job generators.

Jaramillo emphasized that without a workforce equipped with AI‑related skills, future demand cannot be met, citing East Asia’s historic success but noting the need to keep pace with technological change.

Coordinated action on these fronts could unlock productivity gains, attract investment, and sustain inclusive growth, making the reforms a strategic imperative for policymakers.

Original Description

The World Bank Group's Carlos Felipe Jaramillo tells the Atlantic Council's Jeremy Mark that there are three areas of reform where countries should push harder over the next two years to most effectively boost job creation and growth.

They were speaking at the World Bank headquarters during the 2026 IMF-World Bank Spring Meetings. For more, watch the full conversation.