ABSTRACT
The Latin American debt crisis slowly began to resolve itself one country at a time. Solutions were tailor-made for each country and its creditors. The solution of the debt crisis coincided with the biggest realignment in macro-economic policies in Latin America since the end of World War II. One country after another followed Chile’s lead in the 1970s by opening up their economies to international competition; import tariffs were slashed; foreign exchange controls dismantled; budget deficits were reduced and often eliminated; state-owned corporations were privatized; and foreign investment encouraged. Honduras found a niche for itself in the winter melon market, becoming the dominant Central American producer in the process. Japanese immigrants from Okinawa following the end of World War II established well-organized colonies in Bolivia’s Department of Santa Cruz. The Checa family is also credited with being Peru’s first grower and exporter of table grapes and Black Mission figs for the fresh market.
