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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.

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Uruguay

The Uruguayan economy recorded 4.8% growth in 1996, thus making a full recovery from the downturn experienced the year before. This increase in production was accompanied by a further fall in inflation (24%); however, no improvement was visible on the labour scene, as unemployment rose to 12.4% of the economically active population. The country's external and fiscal deficits continued to be moderate and were financed with external funds. This situation remained virtually unchanged throughout the first half of 1997, with production continuing to climb steadily, inflation declining and unemployment strongly resisting any downward pressure.

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