The region was buffeted from all sides--first, by a string of natural disasters in the form of El Niņo and hurricanes Georges and Mitch, and second, by the virulent effects of the Asian and Russian financial crises. The IDB made an unprecedented effort to respond to these pressures, approving a record $10 billion in financing, including billions of dollars in emergency assistance.

A detailed account of these events is available in the IDB's Annual Report 1998. Along with a brief overview of Latin America's economic situation in 1998, the report includes summaries of the operations--loans, financings for small projects and technical cooperation--that the IDB approved for its member countries in Latin America and the Caribbean during that year. Also included are special sections on emergency lending, disaster relief programs, human resource development, and the IDB's participation in consultative groups for Peru, Nicaragua, Guatemala and Central America.

According to the report, which was released in March at the Bank's annual meeting in Paris, the IDB remained the region's main source of credit for the fifth consecutive year, bolstering borrowers' economies as they worked to alleviate poverty, support the private sector and reform public institutions.

In addition to a complete set of 1998 financial statements for the Bank and a listing of the IDB's governors, executive directors and principal officers, the report also offers useful reference information for Latin America. A series of statistical charts displays trends in total and per capita gross domestic product, population, external debt, consumer prices and current accounts, and social indicators such as the birth rate, infant mortality, life expectancy, access to health services, literacy and average schooling for each regional country.

The report is available in English, Spanish, French and Portuguese. To order, contact the IDB Bookstore, E-105, 1300 New York Ave., N.W., Washington, D.C. 20577, tel: (202) 623-1753, fax: (202) 623-1709, e-mail: idb-books@iadb.org.