Economic Survey of Latin America and the Caribbean 1993

image of Economic Survey of Latin America and the Caribbean 1993

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.




Haiti’s economic and social situation worsened considerably in 1993, against a backdrop of violent political conflict which in the past two years has led to a serious institutional crisis, the weakening of the formal economy, the suspension of external financing and a substantial decrease in trade with other countries. The real gross domestic product (GDP) fell by more than 4% after decreasing by 8% in 1992. Meanwhile, per capita output suffered another setback (-5%), although a less severe one than in the previous year (-10%). Such shrinkages may have been mitigated by the growth of the informal economic sector, although the magnitude of that sector cannot be assessed accurately. It is estimated that the unemployment rate rose to over 70%, while the inflation rate (40% over the calendar year) nearly doubled as compared with 1992.


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