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Economic Survey of Latin America and the Caribbean 1991

image of Economic Survey of Latin America and the Caribbean 1991

Published in two volumes - volume I gives insight into the economic trends, the international economy and the role of exchange rate policy in Latin America and the Caribbean. Volume II explores the economic developments by country. Complimentary tables of statistics are included.

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Level of activity

After three years of virtual stagnation, the level of activity of Latin America and the Caribbean recovered to some extent (3.2%), raising per capita output for the first time since 1987. Nevertheless, under the persistent effects of the debt crisis and adjustment processes, regional output for 1991 was only 16% higher than that of pre-crisis 1980, while per capita output was 8% below its 1980 level and equal to that of 1977. The carryover of Brazil's recession, with its high inflation rates, had a considerable impact on regional growth, since that country's economy represents close to a third of the total output of Latin America and the Caribbean. The other economies expanded at an average rate of 4.4%, and 2.2% in per capita terms, both increases that had not been seen since 1980.

English

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