Economic Survey of Latin America and the Caribbean 2004-2005

image of Economic Survey of Latin America and the Caribbean 2004-2005

This year's edition of the Economic survey of Latin America and the Caribbean,the fifty-seventh in this series, is divided into two parts. The first analyses the main features of the regional economy, while the second examines the situation in the individual countries of Latin America and the Caribbean. The full statistical appendix is published in electronic format for ease of data processing.




The upturn in the world economy had a positive impact on production in Honduras, where the growth rate increased from 3.5% to 5.0% between 2003 and 2004. The macroeconomic climate was stable, but some indicators deteriorated and showed no sign of improvement throughout the first half of 2005. Inflation rose to 9.2%, thus ending the downward trend that had lasted for several years. The labour situation continued to worsen and unemployment rose to 5.9%. The current account deficit widened to the equivalent of 5.2% of GDP, while public finances strengthened significantly.


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