Recent Developments in the World Economy and in Non-Oil Developing Countries of the Western Hemisphere
  • 1 0000000404811396 Monetary Fund


This paper summarizes the major findings of the world economic outlook exercise carried out by the Fund staff in December 1982, with particular emphasis on developments in the non-oil developing countries of the Western Hemisphere. For purposes of the world economic outlook exercise, Fund members are divided into three groups: industrial countries, oil exporting countries, and non-oil developing countries: nonmembers constitute a fourth group. In the case of the Western Hemisphere, the group of non-oil developing countries includes five net oil exporters—Mexico, Ecuador, Bolivia, Peru, and Trinidad and Tobago—which do not satisfy the world economic outlook criteria for inclusion as oil exporters.1 Only Venezuela satisfies these criteria.