Key Indicators.

KEY INDICATORS

LATIN TRADE INDEX *

                                                  % CHANGE
                                            NOVEMBER 01/02

Total Trade  November 02  US$ 48 billion              1.1%
Exports      November 02  US$ 24.4 billion            7.9%
Imports      November 02  US$ 23.6 billion           -5.1%

* Combined import and export data from Argentina, Brazil, Chile,
Colombia, Ecuador, Mexico, Peru and Venezuela.

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ARGENTINA

Inflation (annual rate)       Nov. 01/Nov. 02   40.6%
Interest Rate                 November 02         19%
Reserves (US$ millions)       November 02      10,041
Dollar Value (Peso)           January 31         3.21

BOLIVIA

Inflation (annual rate)       Nov. 01/Nov. 02    2.3%
Interest Rate                 November 02        8.7%
Reserves (US$ millions)       November 02         626
Dollar Value (Boliviano)(o))  January 31         7.55

BRAZIL

Inflation (annual rate)       Nov. 01/Nov. 02   10.9%
Interest Rate                 November 02       23.2%
Reserves (US$ millions)       November 02      35,449
Dollar Value (Real)           January 31         3.50

CHILE

Inflation (annual rate)       Nov. 01/Nov. 02      3%
Interest Rate                 November 02        2.8%
Reserves (US$ millions)       November 02      15,168
Dollar Value (Peso (o))       January 31       735.29

COLOMBIA

Inflation (annual rate)       Nov. 01/Nov. 02    5.7%
Interest Rate                 November 02        7.9%
Reserves (US$ millions)       November 02      10,602
Dollar Value (Peso (o))       January 31        2,947

COSTA RICA

Inflation (annual rate)       Nov. 01/Nov. 02     10%
InterestRate                  November 02       11.5%
Reserves (US$ millions)       November 02       1,379
Dollar Value (Colon)          January 31       382.36

DOMINICAN REPUBLIC

Inflation (annual rate)       Nov. 01/Nov. 02    8.8%
Interest Rate                 November 02       18.8%
Reserves (US$ millions)       November 02         469
Dollar Value (Peso (d))       January 31        21.50

ECUADOR

Inflation (annual rate)       Nov. 01/Nov. 02    9.7%
Interest Rate                 November 02        5.5%
Reserves (US$ millions)       November 02         811
Dollar Value (US$)            January 31         1.00

EL SALVADOR

Inflation (annual rate)       Nov. 01/Nov. 02    1.4%
Interest Rate                 November 02        3.4%
Reserves (US$ millions)       November 02       1,914
Dollar Value (Colon (d))      January 31         8.75

GUATEMALA

Inflation (annual rate)       Nov. 01/Nov. 02    6.2%
Interest Rate                 November 02        6.5%
Reserves (US$ millions)       November 02       2,226
Dollar Value(Quetzal)         January 31         7.88

MEXICO

Inflation (annual rate)       Nov. 01/Nov. 02    5.4%
Interest Rate                 November 02        2.9%
Reserves (US$ millions)       November 02      46,771
Dollar Value (Pesos)          January 31        10.91

PANAMA

Inflation (annual rate)       Nov. 01/Nov. 02      1%
Interest Rate                 September 02       4.8%
Reserves (US$ millions)       September 02        947
Dollar Value (Balboa)         January 31         1.00

PARAGUAY

Inflation (annual rate)       Nov. 01/Nov. 02   14.6%
Interest Rate                 November 02       24.2%
Reserves US$ millions)        November 02         593
Dollar Value (Guarani (d))    January 31        7,025

PERU

Inflation (annual rate)       Nov. 01/Nov. 02    1.5%
Interest Rate                 November 02        5.4%

Reserves (US$ millions)       November 02       9,512
Dollar Value (Sol (d))        January 31         3.48

URUGUAY

Inflation (annual rate)       Nov. 01/Nov. 02   24.7%
Interest Rate                 August 02         45.9%
Reserves (US$ millions)       November 02         804
Dollar Value (Peso (m))       January 31        28.41

VENEZUELA

Inflation (annual rate)       Nov. 01/Nov. 02   30.7%
Interest Rate                 November 02       27.9%
Reserves (US$ millions)       November 02       9,108
Dollar Value (Bolivar (d))    January 31        1,923

INTEREST RATE: Bank deposit rate. Data measured by the average, in the
indicated period, in percent per annum.

RESERVES DEFINITION: Excludes gold.

DOLLAR VALUE: Interbank sale and purchase average rate or (c)
Commercial, (d) Free Market, (m) Market, (o) Official.

DATA: IMF; Individual countries; Bank of America Global Trading, London;
LATIN TRADE

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