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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.

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Peru

The Peruvian economy's performance has been in keeping with the economic model being implemented since 1990, which has included major structural reforms anda stabilization policy that has remained in place since the model's inception. Over the past five years, the economy has grown at an average rate of 7.5% per annum, while inflation has exhibited a downward trend, coming in at single-digit figures. The economy has continued to suffer from weaknesses in the external sector and on the employment front, however. Against this backdrop, the Peruvian economy in 1997 exceeded initial expectations, posting growth of over 7%; this was an improvement upon the modest performance recorded the previous year, when the Government's adjustment policy had been a dominant factor. The trend in inflation was also very positive, with the annualized rate falling to 6.5% by December.

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