1887

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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Ecuador

The structural adjustment programme for the Ecuadorian economy begun in mid-1988 rapidly narrowed the fiscal deficit and managed to reduce inflation, even if the annual level still remained high. The slackening in domestic demand -a side effect of the adjustment process- has its counterpart in sluggish activity and in a consequent contraction in the per capita gross domestic product (GDP). The external current account, for its part, showed less of a deficit, and there was an increase in the international reserves, albeit based on an increase in official indebtedness, due in part to the arrears in interest payments to commercial banks.

English

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