X hits on this document

Powerpoint document

Economic Development of Central America Econ. 4200 - Spring 2004 – Dr. Taylor - page 96 / 153

451 views

0 shares

0 downloads

0 comments

96 / 153

The nation's economy as a whole fared badly in the late 1980s, getting into debt like the rest of the region.

 In addition to internal problems, pressure has been put on Honduras by the International Monetary Fund. According to the Caribbean & Central America Report, the first phase of a reform program agreed to with the IMF succeeded in stabilizing the economy through devaluation of the lempira, public-

spending cuts, and increased taxes.

But economic growth declined, and international agencies urged a reduction in the number of state employees as well as an accelerated campaign to privatize state-owned enterprises.

By 1992, following painful adjustments occasioned by the reforms of the government of President Rafael Callejas, the economy again showed signs of growth. Real gross domestic product reached 3.5 percent, and inflation was held in check. Still, unemployment remained a persistent problem; some agencies calculated that two thirds of the workforce lacked steady employment.

Document info
Document views451
Page views451
Page last viewedThu Dec 08 10:30:31 UTC 2016
Pages153
Paragraphs1549
Words20865

Comments