OTHER NEWS - March 29, 1993

Latin, Caribbean Economies Grow: The economies grew by 2.6% in 1992, the Inter-American Development Bank said, the second consecutive year of growth after a decade of stagnation. In its annual report, the lending bank painted a bright picture for the region in 1992, but said much remains to be done in a continent where more than a third of the population can barely earn a living. Capital flooded back to the region last year, inflation was reined in, most governments pushed forward free-market policies and some struck debt-reduction deals. Under such circumstances, “the outlook for sustained recovery in 1993 and beyond remains favorable,” says the 170-page report released in Hamburg, where the IADB is holding its 34th annual meeting. Chile grew by 10% in 1992. Others that did well are Argentina and Venezuela, with 9% growth each, and Panama, with 6.2%.