Economic Survey of Latin America 1954

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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.




Income, consumption and investment, as well as the balance of payments and relative prices and costs between the various sectors of the economy, showed marked changes during 1954. The principal influence was the sharp and sudden devaluation authorized on 17 April which raised the Mexican peso quotation from 8.65 to 12.50 per dollar, an increase of 30 per cent. The repercussions of devaluation were immediate and profound, above all because Mexico has only one exchange rate, which is entirely free, in contrast to some other Latin American countries where depreciation has taken place little by little and is generally spread over multiple exchange systems which have weakened its severity.


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