Economic Survey of Latin America and the Caribbean 1988

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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.




In 1988 the Bolivian economy continued the recovery which had begun the year before, although this process was very much subject to the requirements of keeping inflation and the external accounts within acceptable limits after the traumatic extremes registered in recent years. The product recovered by almost 3%, reaching its highest level since 1983, although it was still eight percentage points below that registered in 1980. Conjunctural reasons caused inflation to double to nearly 22%, but in any case this figure was not even a third of that registered a couple of years before, and it was totally insignificant compared with the inflation of over 8 100% registered in 1985.


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