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Economic Survey of Latin America and the Caribbean 1992

image of Economic Survey of Latin America and the Caribbean 1992

Issued 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 statistical tables are included.

English

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Public finances

In 1992 the public finances of most of the Latin American countries remained relatively under control, and the trend towards the consolidation of the notable progress made since 1989 continued to be observed. Particularly important contributing factors in this respect were the fiscal adjustment processes initiated in past years and the growing prevalence of budgetary control measures such as those adopted to deal with the serious problems of public-sector financing created by the large deficits registered throughout the 1980s -and aggravated by the recession's impact on income and the debt burden- and by the sharp drop in external financing. Privatization programmes, which continued to be vigorously pursued in some countries of the region, generated huge sums of non-recurring income which were especially helpful in reestablishing a fiscal balance.

English

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