Economic Survey of Latin America and the Caribbean 1996-1997

image of Economic Survey of Latin America and the Caribbean 1996-1997

In 1996 and 1997, the economies of Latin America and the Caribbean appeared to have returned to the pattern of moderate growth. Part I of this publication gives insight into the economic trends, the international economy and the role of exchange rate policy in the region. Part II explores the economic developments by country. Included also is a statistical annex on diskette, which contains tables extending as far back as 1980.




In 1996, Brazil's declining inflation rate reached its lowest level since the 1950s, while the economy experienced only moderate growth, attributable to the restrictive policies put in place to deal with external and fiscal imbalances. A heavy influx of capital, composed mainly of medium-and long-term flows, financed the large balance-of-payments current account deficit. However, the size of the deficit (4% of GDP) and the delay in making significant adjustments to the public-sector accounts prompted concerns that these flows might reverse course, undermining the achievements of the Real Plan in terms of price stability and level of output.


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