Latin American Progress under Structural Reform

Subsequent to the economic difficulties of the 1980s, many Latin American governments reluctantly began to introduce market-oriented reform measures. In many cases, the new measures were adopted only as a means of participating in debt-relief programs such as the Brady Initiative. In no case, however, was a full slate of adjustment measures successfully sheparded through any of the regional legislatures. Examination of macroeconomic data prior to the onset of 'reform fatigue' in the late 1990s indicates regional performance did improve under the limited policies that were introduced prior to 1995.