More than a quarter of the countries in the region have democratic systems nearly equal to those of Western Europe, and an average of 60 percent of the gross domestic product is now being produced by the private sector in Central and Eastern Europe, and 49 percent in the former Soviet Union. In addition, in 1996 we supported free and fair elections in 14 countries and the drafting and adoption of new constitutions in three countries. In Mongolia, Economic Support Fund-financed technical assistance and training had a substantial impact on bank restructuring actions in 1996. This led to rapid recovery of savings and time deposits in Mongolian banks, which averted a potential collapse of the banking system and contributed to a sharp drop in the inflation rate. Mongolia now has one of the most liberal trading regimes in the world, with virtually all customs duties having been eliminated.
Higher incomes translate into greater opportunities for U.S. export growth.
Indeed, developing and emerging market countries now account for more than half of America's export growth, and that share is increasing. In turn, these same models are now being successfully applied in U.S. cities and rural areas. We also helped farmers in Latin America choose alternatives to growing drugs, resulting in a 27 percent reduction in acreage devoted to coca in Peru and a five percent reduction in Bolivia. We estimate that the lives of five million children in 33 countries were saved in 1996 through collaboration with the World Health Organization, the United Nations Children's Fund, the World Bank and other bilateral donors. Our international family planning programs provided millions of couples the option to use family planning for the first time.