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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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Chile

The shock waves from the external crisis that first hit the Chilean economy in October 1997 led to a sharp increase in the merchandise trade deficit, with net capital inflows falling by more than half and international reserves thus shrinking considerably after nine years of uninterrupted growth. This made it necessary to moderate the growth of economic activity and domestic demand in an economy already overstretched and in urgent need of adjustment; the combination of domestic austerity measures and the impact of the external crisis cut GDP growth to 3.4% in 1998 from its 1997 figure of 7.6%.

English

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