June 4 (UPI) -- Latin America is facing an escalating education crisis as school dropout rates continue to climb, affecting not only the region's poorest countries but also those with historically strong public education systems, such as Chile, Costa Rica and Uruguay. In Argentina, despite its educational potential, nearly 40% of the population -- about 17.9 million people -- lives in poverty, a factor that directly impacts school attendance and completion.

Statistics show that roughly 160 million people in Latin America and the Caribbean are of school age -- nearly a quarter of the region's total population. About half of them do not complete their education, and many are considering leaving their home countries for the United States, Spain or other developed nations in search of better opportunities.

The Economic Commission for Latin America and the Caribbean and other international organizations have warned that the region's dropout crisis poses a serious threat to its development.

A report by the Inter-American Development Bank found that 27% of students drop out before completing their education. UNESCO estimates that around 23 million children and teenagers in the region are not enrolled in school.