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WEEKLY NEWSLETTER
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Honduras
Index
By 1991 President Callejas had achieved modest success
in
controlling inflation. Overall inflation for 1990 had
reached 36.4
percent--not the hyperinflation experienced by some Latin
American
counties--but still the highest annual rate for Honduras
in forty
years. The Honduran government and the IMF had set an
inflation
target of 12 percent for 1992 and 8 percent for 1993. The
actual
figures were 8.8 percent in 1992 and an estimated 10.7
percent for
1993. Hondurans had been accustomed to low inflation (3.4
percent
in 1985, rising to 4.5 percent by the end of 1986), partly
because
pegging the lempira to the dollar linked Honduras's
inflation rate
to inflation rates in developed countries. But the
expectation for
low inflation made the reality of high inflation that much
worse
and created additional pressures on the government for
action when
inflation soared in 1990.
Data as of December 1993
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