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.




The rate of economic activity decelerated substantially to less than 2% in Uruguay during 1993, in a context in which most of the expansion of demand was met by imports. Inflation declined only slowly, since the inertia produced by the widespread use of indexing mechanisms and rapid money creation due to the acquisition of foreign exchange by the Central Bank of Uruguay overrode the effects of prudent fiscal policy and moderate devaluation of the peso. The variation in consumer prices remained high (53%).


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