Economic Survey of Latin America 1980

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The Economic Survey of Latin America 1980 Analyzes the evolution of the economy of the region in 1980. It examines economic developments in each of the countries of Latin America: production, prices, trade, current account balances and financing, economic growth, external sector and inflation. Specially highlighted in the economic development of Jamaica and Trinidad and Tobago in the '70s.




Following a decade of sustained recovery from the massive destruction wreaked on the island by a hurricane in 1956, economic activity plunged at a precipitous rate in the early 1970s, owing to the combination of a recurrence of adverse weather conditions, the unfavourable evolution of the external sector, and an abrupt change in the pattern of land tenure, which was accompanied by a marked fall in output. In 1974, those factors were exacerbated by political disorders associated with the transition to Independence, which led to the closure of the port facilities for three months; the international recession, and the bankruptcy of the only airline serving the island’s tourist industry, which provoked a severe crisis in this sector.


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