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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.

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Dominican Republic

The uncertainty generated by the Dominican Republic's upcoming elections was a factor of overriding importance during the first eight months of the year; it contributed to a deterioration in fiscal and external accounts, helped to fuel expectations of a devaluation as well as inflationary pressures, and played a part in the erosion of international reserves. In September, after the elections, the authorities began to implement new fiscal, monetary and exchange policies which led to an improvement in the economic picture: aggregate demand contracted, the exchange rate stabilized in banking and non-bank markets, and international reserves made a partial recovery.

English

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