1945

The persistence of an adverse international environment, with deteriorating external financing conditions and lower prices for the region’s non-fuel commodity exports, was one of the factors that helped explain why economic growth in Latin America and the Caribbean slowed further in 1999 and why investment levels were sharply lower. The negative impact of these circumstances was stronger than it had been in 1998, as total gross investment retreated by a full 9.5%, with a 5.7% drop in fixed investment and a much steeper downturn in inventory building. Total investment shrank in all the South American countries, whereas Mexico, the Caribbean and the Central American countries were less affected and posted a small increase.

Related Subject(s): Economic and Social Development
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