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Trade and Development Report 1993

image of Trade and Development Report 1993

The focus of the report is the functioning and interaction of all the different constituent parts of the world economy and of related dimensions of national and international policy. Special attention is given to issues of concern to developing countries. The coverage includes the movements of macroeconomic aggregates in developed and developing countries and in the economies of transition, international trade and trade policies and financial and commodity markets.

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Recovery and uncertainty in Latin America

Only five years ago the economies of Latin America were still in serious crisis, with widespread macroeconomic imbalances involving large budget deficits and very high inflation and even, in a number of countries, hyperinflation. Imports were tightly compressed in order for the economies to generate the massive trade surpluses needed to service debt, and there was very little by way of external lending or inflows of private capital. Growth was almost zero and net investment barely positive.

English

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