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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Peru

The domestic recession which had hit the Peruvian economy the year before increased in severity in 1989 (-11%), bringing down the per capita product to a level 25% below that recorded at the start of the 1980s and prompting a further decrease in gross national income. At the same time, the rate of price increases remained high throughout the year, with a 12-month inflation rate as of December of 2 800%, while real wages and salaries dropped to just half of their already low 1988 level.

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