Throughout the last decade, Latin America has made tremendous progress in undertaking significant structural reforms. In many countries, state-owned enterprises have been privatized, basic infrastructure has been built, and capital markets have been established. In more advanced countries in the region, foreign investment flows have soared and trade performance has dramatically improved. These reforms are even more remarkable when placed in the context of the numerous upheavals, both economic and financial, that have affected the region in recent years.

However, Latin America is also a region that has failed to deliver the kind of economic performance that most observers expected, given its wealth of natural resources, proximity to North America and Europe, and relative level of development. Despite the region's indisputable economic and social accomplishments, gains have varied widely among these countries. While some have successfully implemented macroeconomic, political, and institutional reforms, many countries have yet to create the necessary conditions for fostering economic growth and competitiveness.

The Latin American Competitiveness Report 2001-2002 highlights the prospects for growth in the region, and, more importantly, reveals the obstacles to competitiveness. Through in-depth analysis of regional trends and detailed country profiles, the Report assesses the comparative strengths and weaknesses of the leading economies in Latin America. It also contains essays on a variety of issues relevant to competitiveness along with an assessment of the impact of the events of September 11th on the longer-term prospects of the region. The Latin American Competitiveness Report 2001-2002 is an invaluable tool for policymakers, business strategists, and other important stakeholders as well as essential reading for all with an interest in the region.