1887

Economic Survey of Latin America and the Caribbean 1988

image of Economic Survey of Latin America and the Caribbean 1988

In 1988, the economic crisis of Latin America and the Caribbean took a dramatic turn. For the first time since the 1981-1983 recession, the per capita product declined to a level equivalent to that of 1978; inflation almost quadrupled to an unprecedented average of 760%, and real incomes declined in most of the countries.

English

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Argentina

The general picture displayed by the Argentine economy in 1988 was disturbing, for although the trade surplus was several times higher than that of the preceding year, the growth rate of prices more than doubled to nearly 390%, while the gross domestic product contracted for the fourth time in the present decade, causing a 4% drop in the per capita product.

English

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