Aggregate resource flows Capital flows to Latin America and the Caribbean continued to recover in 1996. Debt and indicators Growth of debt stock slows. Mexico prepays official debt.
Poor countries achieve debt reduction.
In 1996 Nicaragua also reached agreement with the Russian Federation on a debt restructuring deal that provides for 90 percent forgiveness on its ruble debt. Bolivia, Guyana, and Nicaragua, are all classified as heavily indebted poor countries. Aggregate resource flows Estimated aggregate resource flows into Latin America in 1996 reflected the decline in inflows of official support to Mexico, which rose sharply in 1995 following the peso crisis. Private capital flows rebound. Private capital flows into the region increased 37 percent in 1996, following relatively weak performance in 1994 and 1995.