Economic Survey of Latin America 1954

image of Economic Survey of Latin America 1954

Published since 1948, this report examines various aspects of the previous year’s macroeconomic situation in the region and makes projections for the coming months. The study also includes country notes that review the performance of the main economic indicators in the period analysed.




Bolivia’s dependence on tin became still more pronounced in 1954, when—apart from internal difficulties— the natural disadvantages of an economy highly susceptible to external fluctuations made themselves fully felt. The balance of payments showed a record deficit, while foreign exchange holdings dropped to 11 million dollars. No statistics are available with which to calculate gross income and its fluctuations, but there is every indication that it did not rise above the very low level of the preceding year. The volume of available goods probably improved slightly, owing to foreign aid, imports of consumer goods and excellent crops, resulting from unusually favourable weather and—to a lesser extent—from agrarian reform. The investment coefficient almost certainly remained at the low 1953 level, when capital goods imports dropped to 15 per cent of aggregate imports. Inflation continued unchecked, while obstacles impeding a policy to halt the spiral became more serious.


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