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 direction of the Colombian economy in 1993 continued to be influenced by the system’s reactions to the liberalization measures introduced three years earlier. Freer imports and access to external financing produced serious trade and current account deficits, in contrast to the two previous years, while investment experienced an extraordinary rebound and consumption grew. As a result, gross domestic product continued on the upward path taken the year before and grew by a rate of nearly 5%. The system was allowed the liquidity necessary to support such growth, while the non-financial public sector balanced its budget, thereby avoiding an increase in interest rates without overly compromising the stability of the exchange market.


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