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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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Cuba

Although the island remained in the grip of a serious crisis, clearer signs of a recovery in the Cuban economy were visible in 1996. Improved access to imported inputs and reorganization of the public sector resulted in greater capacity utilization and a smaller fiscal deficit. Expansion of supply on the domestic market alleviated inflationary pressures and led to an appreciation of the peso on the parallel exchange market. However, the limitations of this economic upturn became evident when the trade deficit again doubled. Thus, in 1997, output is expected to grow at a more modest rate of 4% at most.

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