Economic Survey of Latin America and the Caribbean 1997-1998

image of Economic Survey of Latin America and the Caribbean 1997-1998

The Economic Survey of Latin America and the Caribbean, 1997-1998 is the fiftieth edition in this series. To mark this milestone, a special chapter has been included in this edition which traces the history of the publication and outlines the way in which the economic situation in the region has been viewed during each of the periods examined. Once again, the Survey has been published as a single volume consisting of three parts. Part 1 contains an overview of the economy in 1997 and the first half of 1998. Part 2 presents reports on the 20 countries of Latin American and on the situation in the countries of the English-speaking Caribbean. Part 3 reviews the 50 years of the Survey.




In 1997 Nicaragua achieved Us highest rate of GDP growth of the decade (5.5%) thanks to abundant foreign capital inflows that underpinned private investment and consumption. The progress made in terms of well-being was even greater, as open unemployment fell, the inflation rate dropped to single-digit levels (7.3%) and the country's terms of trade with the rest of the world improved. However, the already excessive deficit on the balance-of-payments current account increased further, although only slightly, due above all to a widening of the merchandise trade gap.


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