1945

In 1991, the economic activity in Latin America and the Caribbean as a whole grew by 3.2%; as a result, per capita output registered its first improvement in four years. At the same time, inflation receded and hyperinflation was virtually eliminated. This moderate progress over previous years was achieved in spite of a relatively unfavourable international environment, which was reflected in the very slow growth of exports and a significant deterioration in the terms of trade.

Related Subject(s): Economic and Social Development
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