Over the past decade, Latin America and the Caribbean have made tremendous progress in reducing poverty and in boosting shared prosperity. Poverty has fallen by half to 12.3 percent. The middle class -- currently 34 percent of the population -- is growing. Meanwhile, inequality in Latin America -- historically the world's highest -- has fallen, even as it rises in practically every other part of the globe. For the first time, the number of people in the middle class surpasses those living in poverty.