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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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Level of activity and inflation

Economic activity in Latin America and the Caribbean slowed considerably in 1998, with the growth rate of regional GDP falling from 5.4% in 1997 to 2.3% in 1998. In the first two quarters, the regional economy continued to perform as strongly as in 1997, which had been one of the best years in the last quarter century, but it then began to falter and started showing signs of negative growth towards the end of the year. This disappointing performance continued into the first half of 1999, and total growth for 1999 will probably be around zero. At the same time, since demographic growth is still rapid in most of the countries of the region, per capita GDP rose by only 0.8% in 1998, for a total increase of 16% since the beginning of the decade.

English

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