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Economic Survey of Latin America and the Caribbean 1989

image of Economic Survey of Latin America and the Caribbean 1989

The Economic Survey of Latin America and the Caribbean is issued annually by the Economic Development Division of the Economic Commission for Latin America and the Caribbean (ECLAC). It covers the economic situation in Latin America and provides a concurrent economic overview of the region.

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Venezuela

The most influential event in terms of Venezuela’s economic performance in 1989 was the newly-installed government’s implementation of a stringent adjustment and stabilization programme in February in an attempt to dimmish the major macroeconomic imbalances which had arisen as a consequence of the steady expansion of domestic demand in past years. The measures provided for by this programme prompted a steep increase in the rate of inflation (which later slowed, however), a severe downturn in economic activity and, in combination with the effect of the increase in international oil prices, a large trade surplus.

English

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