Musicians, intellectuals and leading businessmen from across Latin America are in Panama to announce a series of benefit concerts next year being backed by UNICEF.

Observers say the events will aim to emulate the Live Aid humanitarian effort for Africa, as the concerts drive to help reduce regional poverty.

Stars featuring include Colombian singer Shakira and the Panamanian salsa singer, Ruben Blades, the concerts aim to improve development and tackle child poverty.

The concerts are part of a wider foundation, the Latin America Solidarity Action Foundation - known as Alas or 'wings' in Spanish.

Buenos Aires, Miami and Los Angeles are among five cities hosting the events.

The Colombian novelist, Gabriel Garcia Marquez, is the honorary president of the foundation that was also launched on Tuesday.

"Latin America has some devastating statistics," Mr Garcia Marquez said at the launch.

He made reference to the 350,000 children under five who die from causes linked to poverty and the 40 million minors who work in the street.

"We all have to do our part to fight against inequality," pop singer Shakira said prior to the launch.

"The artists are building something different, with a vision and an interest in inclusion," representative Nils Kastberg said.