Economic Survey of Latin America and the Caribbean 1982

image of Economic Survey of Latin America and the Caribbean 1982

Reviews the main changes during 1982 in the parities and exchange systems of the countries of Latin America, and the basic features of the processes renegotiation external debt. Discuss exchange rate policy implemented by the countries of the region, highlighting the existence of strong devaluations and changes in exchange systems. It describes the general mechanisms of debt rescheduling, conditions for renegotiation, and the IMF's role in this process.




The evolution of the Bolivian economy during 1982 may be described as the worst in many years. In general, all the economic indicators clearly showed that the situation had deteriorated considerably since 1981—a year in which economic difficulties were already apparent. In addition, various sets of economic measures were adopted during the year, and in October there was a change of government. This latter event would have been enough in itself to affect economic activity; nevertheless, given the high degree of economic and political instability which existed throughout the entire year, it cannot be said that the impact of the institutional changes in the final quarter was so great as to have had a significant influence on the course taken by the economy. One of the most widely accepted views in the country is that the events of 1982 were a result of the various policies that governed the economy during the 1970s, in combination with the effects of the international economic crisis.


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