Economic Survey of Latin America and the Caribbean 2000-2001

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This survey presents an overview of the regional economy and the economic performance in 2000 and the first half of 2001. It also offers individual country reports on the performance of the 20 countries of Latin America for the same period. 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.




The Colombian economy saw a moderate recovery (2.8%) in 2000, after having suffered its most severe recession of the century in 1999. The urban unemployment rate remained high, however, at 20%. The fiscal deficit, in contrast, fell to 3.5% of GDP; the balance-of-payments current account closed in balance; and the downward trend in inflation continued (8.8%). The devaluation of the last two years brought the real exchange rate to a level not seen in seven years. Industrial production and exports of petroleum and of non-traditional items led the growth of the economy. Although it was slowly making a recovery, the financial sector remained fragile, and this limited the supply of financing available to the real sector of the economy.


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