Economic Survey of Latin America and the Caribbean 2002-2003 by United Nations

By United Nations

This can be the fifty fifth version within the sequence which supplies an review of the economies of the Latin the US and the Caribbean zone in the course of 2002 and the 1st half 2003. It comprises: an summary of the nearby financial system as a complete, when it comes to macroeconomic rules and reforms, inner monetary functionality and the exterior monetary quarter; and short analyses of the commercial functionality of 20 nations together with tables and knowledge for the most monetary symptoms. The accompanying CD-ROM includes the whole textual content and snap shots, in addition to a statistical appendix together with over four hundred info tables.

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Extra info for Economic Survey of Latin America and the Caribbean 2002-2003 (CD-ROM Included)

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Guatemala and Honduras, meanwhile, will post inflation of about 6%. The Dominican Republic is grappling with a complicated situation involving a depreciating currency and an up3wing in inflation. If the adjustment process is carried out quickly, the authorities may manage to rein in the depreciation o f the exchange rate and bring monthly inflation down towards the end of the year. 8% in 2002). Most of the English-speaking Caribbean countries will continue to post low inflation in 2003. The exceptions will be Suriname, where inflation sped up significantly laqt year, and Jamaica, which, as mentioned earlier, is faced with complex macroeconomic policy dilemmas.

The import growth projected for 2003 is likely to be strongly influenced by events in MERCOSUR, whose member countries can be expected to resume more normal levels of trade compared to the critical juncture reached in 2002. A decisive factor in this regard will be the recovery of economic activity in Argentina. In Mexico, on the other hand, foreign purchases seem to be flagging, reflecting the fragile state of its trade with the United States and the weakness of its domestic activity. On the other side of the equation, although exports contributed less to the surplus in 2002, an incipient improvement could be discerned in the second half of the year among both non-oil and total foreign sales.

A Projections. a) Mexico, Central America and the Caribbean In Mexico, export performance differs sharply from patterns prevailing elsewhere in the region. Non-oil exports Rave declined steadily since mid-2002, broadly following their 2001 trend when the United States was in recession. 12, non-oil imports into the United States from Mexico fell steeply in 2001. Although there has been an upturn in the second quarter of 2002, the trend in the remainder of the year and first few months of 2003 has again been negative.

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