Output for the developing countries advanced by 1. 9% during 1991-comparable to the weak performance they registered in 1990. In terms of per capita income, real output in developing countries apparently cased somewhat, by -0. 1 %. A number of factors-some broad-based, others more specific –contributed to the weakness of performance. Despite the slowdown in the industrial countries-particularly in the U. S. -improvements in economic performance in Latin America were widespread. The region's GDP rose by 3. 0% in 1991, thus reversing the slide in annual per capita income that had taken place over the past decade. Growth rates were in excess of 4% in Argentina, Chile, and Mexico and reached a high of 9. 1% in Venezuela. Policy reforms covering fiscal adjustment, trade and investment liberalization, the financial sector, and public-enterprise restructuring and privatization, supported by debt restructuring, have helped to moderate inflation in the region and strengthen domestic demand.