Latin Incomes Fall: Individual incomes in Latin...

Latin Incomes Fall: Individual incomes in Latin America dropped overall last year and will drop further, the Inter-American Development Bank said in a report that shows regional growth at less than 1% in 1988. According to the bank, 1988 per capita income was lower in 12 of 25 Latin American countries, including three of the most populous and heavily indebted: Mexico, Brazil and Argentina. The bank did not provide dollar figures in its report, but World Bank statistics for 1987 show that the average Argentine earned the equivalent of $2,370, the average Brazilian $2,020 and the average Mexican $1,820. The Inter-American bank said the 1988 drop was the greatest in Panama--18.8%--followed by Nicaragua and Peru with 11.1% each.