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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.

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Panama

The Panamanian economy grew by 3.9% in 1998, less than the 4.7% recorded in 1997. Despite this, per capita GDP increased by 2.3%. The slowdown was essentially due to external factors, including those that affected activities in the Col6n Free Zone and the bad weather caused by El Nino. These negative developments were counteracted by the good performance of the domestic market, which was buoyed up by higher levels of spending on consumption and investment, and increases in employment and real wages. Despite the worldwide financial turbulence of 1998, the country’s international banking centre remained very stable, and liquidity remained abundant, leading to a slight downward trend in interest rates.

English

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