Summarize this paragraph

High rates of crime and violence in Latin America are undermining growth, threatening human welfare, and impeding social development, according to World Bank and the United Nations Office on Drugs and Crime (UNODC). According to the Financial Times, "The region registers close to 40 per cent of the world’s murders despite being home to only 9 per cent of the global population. According to Lapop, one in four Latin Americans was assaulted and robbed" in 2018. Latin America is caught in a vicious circle, where economic growth is thwarted by high crime rates, and insufficient economic opportunity contributes to high crime. Crime and violence thrives as the rule of law is weak, economic opportunity is scarce, and education is poor. Therefore, effectively addressing crime requires a holistic, multi-sectoral approach that addresses its root social, political, and economic causes.

Recent statistics indicate that crime is becoming the biggest problem in Latin America. Amnesty International has declared Latin America as the most dangerous region in the world for journalists to work.

In Mexico, armed gangs of rival drug smugglers have been fighting it out with one another, thus creating new hazards in rural areas. Crime is extremely high in all of the major cities in Brazil. Wealthy citizens have had to provide for their own security. In large parts of Rio de Janeiro, armed criminal gangs are said to be in control. Crime statistics were high in El Salvador, Guatemala and Venezuela during 1996. The police have not been able to handle the work load and the military have been called in to assist in these countries. There was a very distinct crime wave happening in Latin America. The city that currently topped the list of the world's most violent cities is San Pedro Sula in Honduras, leading various media sources to label it the "murder capital of the world." Colombia registered a homicide rate of 24.4 per 100,000 in 2016, the lowest since 1974. The 40-year low in murders came the same year that the Colombian government signed a peace agreement with the FARC.

Crime is slowing economic growth and undermining democratic consolidation in Latin America. Today, Latin America has the dubious distinction of being most violent region in the world, with combined crime rates more than triple the world average and are comparable to rates in nations experiencing war. This is taking a tremendous toll on development in the region by both affecting economic growth and public faith in democracy.

The Inter-American Development Bank estimates that Latin America's per capita Gross Domestic Product would be twenty-five percent higher if the region's crime rates were equal to the world average. Similarly, the World Bank has identified a strong correlation between crime and income inequality. Business associations in the region rank crime as the number one issue negatively affecting trade and investment. Crime-related violence also represents the most important threat to public health, striking more victims than HIV/AIDS or other infectious diseases.

Countries in Latin America are suffering from a high density of crime. This is thwarting their economic growth and undermining democratic consolidation. Such high rates of crime have been correlated with income inequality inherent in those regions. The solution to this situation lies in a multi-sectoral approach that addresses crime's root social, political, and economic causes.