ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

A+| A| A-

Latin American Economy in 1978

Latin American Economy in 1978 THE Executive Secretary of Economic Commission for Latin America (CEPAL), Enrique V Iglesias, drew up a preliminary balance of the performance of the Latin American economy in 1978 at a press conference held at CEPAL headquarters at the end of December 1978. In general terms, the data available to CEPAL indicate that (a) there was a slight slowing down in the rate of growth (from 4.5 per cent in 1977 to 4.1 per cent in 1978) so that for the fourth year in succession the increase in the regional domestic product was relatively poor; (b) in the external sector, the deficit on the current account of the balance of payments rose substantially; (c) as a result of higher inflows of capital, Latin America's gross international reserves were further strengthened; (d) on average, over (the region as a whole, the innationary process slackened slightly in 1978. The assessment by the Executive Sccretaiv of CEPAL is reproduced below from notas solwe la economic y el desarrallo de america latina, January 1979, prepared by CEPAL Information Service.

Dear Reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here

Back to Top