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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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Argentina

Economic activity slowed in 1998, although average growth for the year, at slightly over 4%, was still enough to generate an increase in employment. Output growth was concentrated in the first half of the year, after which there was a marked turnaround that lasted into the early months of 1999. The weakness of external demand throughout 1998 led to a fall in the value of exports (notwithstanding an increase in total volume), while imports increased, albeit more slowly than in 1997. Capital inflows exceeded previous highs, despite wide fluctuations in foreign credit supplies. Government revenues grew less than originally anticipated; nevertheless, public-sector borrowing requirement declined to around 1% of gross domestic product (GDP). Prices rose only slightly (0.7%), continuing the pattern of recent years.

English

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