A brief glance at new problems arising in Latin America
- Author: Economic Commission for Latin America and the Caribbean
- Main Title: Economic Survey of Latin America 1950 , pp 4-37
- Publication Date: December 1950
- DOI: https://doi.org/10.18356/fa4fdbaf-en
- Language: English
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The present widespread concern in Latin America regarding the accumulation of foreign exchange is a clear symptom of the deeper understanding of concepts of economic development. Formerly any such accumulation would have been welcomed as an opportunity for replacing monetary reserves after a period of disturbing shortage. Now, however, although this view has not entirely disappeared, the stress is rather laid on the need to make immediate use of these exchange receipts for importing capital goods and other commodities indispensable to production. Monetary resources are at present given preference as an instrument of economic development; this change in attitude must have been linked with the experience acquired in certain forms of control compatible with lower monetary reserves than those which formerly appeared to be advisable.
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