Economic Survey of Latin America and the Caribbean 1994-1995

image of Economic Survey of Latin America and the Caribbean 1994-1995

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.




In 1994 the Guatemalan economy once again recorded growth of around 4%, while inflation was kept to the moderate rate of about 12%. These results were achieved despite the tense political situation created by the existing stand-off among the different branches of Government and the slow pace of talks aimed at putting an end to the armed conflict being waged in the country. Bolstered by higher prices for Guatemala's leading exports (especially coffee and sugar), the country's terms of trade also showed a significant improvement in 1994. Moreover, the implementation of the Government's monetary and fiscal policies went smoothly until late in the year, despite the tensions besetting both. Thanks to this combination of circumstances, no appreciable pressure was brought to bear on the foreign-exchange market, and the price of the dollar actually dropped slightly.


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