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Economic Survey of Latin America and the Caribbean 1998-1999

image of Economic Survey of Latin America and the Caribbean 1998-1999

This survey presents an overview of the regional economy and the economic performance in 1998 and the first half of 1999. It also offers individual country reports on the performance of the 20 countries of Latin America during 1998 and the first half of 1999. In addition, the Economic Survey of Latin America and the Caribbean analyzes the economic situation in the countries of the English-speaking Caribbean. This year's edition includes a CD-ROM that contains the statistical appendix.

English

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Cuba

In 1998, Cuba’s economic recovery slowed down for the second year in a row. The year’s mediocre GDP growth of 1.2% was basically due to a reduced sugar-cane harvest, as the rest of the economy grew by 4%. The non-financial public-sector deficit was up slightly at 2.4% of GDP, and the liquidity overhang increased, though without affecting the purchasing power of the local currency. Inflation remained in low single digits (2.7%) —slightly less than in 1997— and the parallel exchange rate strengthened marginally, from 22.8 pesos to the dollar in 1997 to 22.3 in 1998.

English

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