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.




The Cuban economy once again showed disappointing results in 1992. The decisive factor in Cuba's poor economic performance was the worsening of the external sector, in which the scarcity of foreign exchange continued to be the main obstacle, given the country's heavy dependence on international trade. The situation worsened owing to the decline in trade with the countries which formerly comprised the socialist bloc, the deepening of the United States' economic embargo and the fall in the prices of Cuba's main export products. The choking off of energy products and the generalized scarcity of goods led to a collapse in output.


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