text: CSSR -2.7 -1.9 -1.1 0.4 1.1 1.7-0.4 liOrIdtota1 2.0 1.5 2.3 2.5 2.6 2.6 2.2 ~ Developing countries (excluding 1.4 0.5 2.7 2.7 2.9 3.1 2.2 China) leastdeveloped countries -0.7 0.0 0.1-0.2 -0.1 0.0-0.2 'T-,-Idf· . 1 markets interest ratesareexpected toremain highfor34Inwor1nanC1a, .• tlicyhasalready beentightened 1nresponse torecentseveral reasons: monearypo , . .'nflat1'onary pressures; thefiscaldeficit intheUn~ted States ~ncreases 1n~ 'G d, t b 1 rge'monetary unionbetween theFederal Republ1c ofermany ancont1nues 0ea, , D t'Republ~c isexpected toincrease both f~scal andmonetarytheGerman emocra lC • , ,thFederal Republic ofGermany; andinterest rateshavebeenralsedpressures 1ne , . , . kinJapan,motivated byconcerns overthestabillty ofltSflnanclal marets. 35.Theexternal economic conjuncture facing deve~oping,countries isthus decidedly mixed. Muchwilldepend onth:ir ~omest1c PollcY,responses andonthe extent towhichtheinternational communlty lSprepared to~ncrease sup~ort for countries implementing needed economic reforms. Asmatters st~ndnow:ltappe~rs S'fthestriking differences inthegrowth performance ofChlna, Talwan Provlnce,a ~ , .theRepublic ofKoreaandThailand inAsiacompared tothatofsomanycountrles 1n Africa andLatinAmerica, whichcharacterized the1980s, arelikely tocontinue. Evenso,growthinthenewlyindustrialized economies inAsiaisprojected toslow asdomestic demand ratherthanexports becomes themoreimportant source ofgrowth; inChinatoo,whereinflation hasbecome aproblem, growth probably willbeslower, butitwillremain highnonetheless. Inanumber ofotherAsiancountries, growthisexpected toaccelerate inresponse toexport-led development strategies. 36.Mostdeveloping countries inLatinAmerica andtheCaribbean arelikely to experience afasterrateofgrowth oftotaloutput thanin1989,butbecause ofthe expected recession inBrazil, aggregate outputoftheregion maywelldecrease by 1percentin1990. Therehavebeenanumber ofpositive developments creating a morefavourable climate forgrowth. Agreements withcommercial bankcreditors have reduced interest payments inMexico, Venezuela andCostaRica,threecountries wherestrongadjustment programmes areinplace. Therehasbeenacessation of hostilities inNicaragua, andtheprices ofoilandsomeminerals have strengthened. Anambitious adjustment programme wasrecently introduced inBrazil, thepositive effects ofwhichcanbeexpected toappear onlygradually, Anumber ofothercountries, however -notably, Argentina andPeru-havenotyetbeenable toimplement aneffective adjustment programme, andtheyareexperiencing hyperinflation combined withslowgrowth. Heavydebtservice obligations continue tohamper theefforts ofanumberofdebtorcountries tocorrect theproblems of lowinvestment andhyperinflation. Thusitisthatmedium-term growth prospects fortheregionaresomewhat improved butfarfromadequate. Afternineyearsof falling percapita income andwithlargeunderutilized industrial capacity, per capita growthintheregion asawholeisexpected toaccelerate gradually, to 2.5percentby1994. Eventhisrateofgrowth wouldnotbesufficient toabsorb t~eannualincrease inthelabour forceand,consequently, thereislikelytobe h1gher unemployment intheregion. ForAfrica, theprojections pointtoa t~oroughly dismalpicture ofstagnant output andincome percapita yearafteryear, wlthnorecovery ofthegroundlostinthe1980s. Inpartthisreflects thepoor
analysis: The text appears to be a report on the economic situation of various countries, particularly developing countries. It discusses factors such as interest rates, monetary policy, fiscal deficit, and economic reforms, which suggests a strong focus on economic development. The text also mentions specific countries and regions, highlighting their growth prospects, economic challenges, and responses to these challenges. This suggests that the text is primarily concerned with economic development, rather than other categories.