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.




The Bolivian economy grew by 0.6% in 1999, compared to a rate of close to 5% in 1998 and an annual average of over 4% for the 1990s. This slowdown was associated with the international crisis, which had a particularly strong impact on external transactions, and domestic factors that flattened out domestic demand. The fiscal deficit shrank to 3.9% of GDP, and this figure actually included pension reform costs amounting to 4.1% of GDP. Although exports decreased, imports fell more steeply, thus paring down the current account deficit to around 6.5% of GDP. Foreign direct investment (FDI) in Bolivia continued to mount in 1999, in keeping with the trend seen throughout the 1990s. Thanks to large-scale investments in natural gas exploration, proven reserves tripled in 1999, the gas pipeline between Bolivia and Brazil was completed, and the country began to export natural gas to Brazil. The cumulative inflation rate for 1999 was one of the lowest to be recorded in the second half of the century and, at 3.1%, was well below the year’s stipulated target of 5%.


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