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.



Macroeconomic policy

In 1999, macroeconomic policy was heavily influenced by the international crisis that has been affecting many of the region’s countries since the final quarter of 1997. A series of external shocks and a downturn in several economies -particularly in South America- have given rise to a pattern marked by monetary prudence, more flexible exchange rates and widening fiscal deficits. Apart from concerns sparked by the vagaries of immediate circumstances, in most of the countries the authorities had to continue focusing on the prudential regulation of the financial system. The fragility of the banking sector, rising financial costs and the recessionary expectations that prevailed in 1999 created an adverse environment for domestic lending activity.


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