Economic Survey of Latin America and the Caribbean 1999-2000

image of Economic Survey of Latin America and the Caribbean 1999-2000

This summary provides an assessment of the Latin America and the Caribbean region's economy during 1999 and the first half of 2000. It presents an overview of each country's external sector, macroeconomic policy, activity levels, inflation, employment, saving and investment. The publication contains thirteen statistical tables.




In 1999, the Chilean economy was convalescing from the external shock and the adjustment policies of the previous year. This translated into decreases of 1.1 % in GDP and of 9.9% in domestic demand (17% in investment), along with higher unemployment, which peaked in August at a nationwide rate of 11.5%. The government responded to the fall in private spending by expanding public spending more than had originally been planned. This, added to the drop in government revenue, generated a global deficit in the non-financial public sector (1.6% of GDP) for the first time in 12 years. Nevertheless, the year ended on a brighter note, as the balance in external accounts was regained and the inflation rate barely topped 2%.


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