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Article: The drug economy. (Colombia)
- Article from:
- The Economist (US)
- Article date:
- April 2, 1988
CopyrightCOPYRIGHT 1988 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Colombia is Latin America's current economic success story, for a praise. worthy reason (prudent economic management) and a malign one-drugs
THE country's GDP has grown every year throughout the turbulent 1980s, more consistently than in any other country in Latin America (see chart on next page). In 1987, despite a fall of 40% in the world's price for its main legal export, coffee, economic growth was 5.6%. Total listed exports held steadyish at $5.3 billion, giving a $1.4 billion surplus in legitimate trade.
Inflation of 24% at the end of 1987 was the highest in years, but urban unemployment of 10% at the year-end was the lowest. An exemplary debtor, ...