IV. PROYECCIONES ECONOMICAS

IV. PROYECCIONES ECONOMICAS Departamento de Estudios SOFOFA 73

Proyecciones Económicas de Chile 2005 Banco Central (Ene 2005) FMI JP Morgan Encuesta Expectativas BC (Mar 2005) Sofofa (Dic 2004) PIB (% var. real) 5,25-6,25 4,7 6,0 5,8 5,6 Gasto (% var. real) 7,4 n.d. 7,1 n.d. 6,5 Inflación a Dic. (%) 2,0 2,9 2,5 2,4 2,9 Exportaciones (MMUS$) 33.400 n.d. 35.200 n.d. 32.500 Importaciones (MMUS$) 27.100 n.d. 27.000 n.d. 26.500 Balanza Comercial (MMUS$) 6.300 n.d. 8.200 n.d. 6.000 Cuenta Corriente % del PIB -0,6-1,9 0,6 n.d. 1,3 Dólar ($ a diciembre) n.d. n.d. n.d. 590,0 n.d. Precio Promedio del Cobre 120,0 n.d. n.d. n.d. 115,0 Fuentes: Banco Central, Informe de Política Monetaria, Enero del 2005 Fondo Monetario Internacional, World Economic Outlook Octubre 2003 JP Morgan-CHASE, Diciembre 2004 Departamento de Estudios SOFOFA, Febrero 2005 Departamento de Estudios SOFOFA 74

Encuesta Mensual de Expectativas Económicas a Marzo del 2005 Variables (*) 2005 2006 IMACEC a Enero 6,2 - PIB (Var. 12 meses) 5,8 5,0 Inflación (12 meses a Dic) 2,4 3,0 Tipo de Cambio (dentro de 11 y 23 meses) 590,0 605,0 Tasa Instancia (a Dic) 3,75 4,75 BCU 5 años (dentro de 11 y 23 meses) 3,0 3,4 Evolución Proyección Crecimiento PIB Año 2005 5,0 5,0 4,9 4,5 4,5 4,6 4,8 5,0 5,0 5,0 5,0 5,1 5,0 5,0 5,0 5,0 4,8 5,3 5,5 5,7 5,8 Mar-03 Abr-03 May-03 Jun-03 Jul-03 Ago-03 Sep-03 Oct-03 Nov-03 Dic-03 Ene-04 Feb-04 Mar-04 Abr-04 May-04 Jun-04 Jul-04 Ago-04 Sep-04 Oct-04 Nov-04 Dic-04 Ene-05 Feb-05 Mar-05 Evolución del Imacec Proyectado y Efectivo 10,0 8,0 6,0 4,0 2,0 0,0 Mar-03 Abr-03 May-03 Jun-03 Jul-03 Ago-03 Sep-03 Oct-03 Nov-03 Dic-03 Ene-04 Feb-04 Mar-04 Abr-04 May-04 Jun-04 Jul-04 Ago-04 Efectivo Proyectado Sep-04 Oct-04 Nov-04 Dic-04 Ene-05 Feb-05 Fuente: Encuesta Mensual de Expectativas Económicas, Banco Central Departamento de Estudios SOFOFA 75

Referencia Año Crec. 2003 (FMI) Proyecciones de la Economía Mundial 2004 y 2005 Fondo Monetario Internacional y JP Morgan PIB FMI JPMorgan 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 Países América Latina 1.7 3.9 3.7 6.2 4.4 6.2 5.6 6.8 6.3-0.4-1.0 1.3 0.6 Argentina 8.8 7.0 4.0 9.0 7.0 4.8 7.1 6.1 9.5 1.1-1.4 2.0 2.3 Brasil -0.2 4.0 3.5 5.2 3.5 6.6 5.9 7.6 5.8 1.2 0.4 1.9 1.1 Colombia 3.7 4.0 4.0 3.8 3.5 6.0 5.0 5.5 5.5-1.1-2.2-1.4-1.2 Chile 3.3 4.9 4.7 6.1 6.0 1.1 2.9 2.4 2.5 0.5-1.9 1.4 0.6 Ecuador 2.6 5.4 4.0 6.0 3.5 3.2 2.7 1.9 2.5 2.8 3.0 1.8 1.4 México 1.3 4.0 3.2 4.4 4.0 4.4 4.0 5.2 3.6-1.2-1.5-1.3-1.8 Perú 4.1 4.5 4.5 5.1 4.8 3.5 2.5 3.5 2.5-0.4-0.7-0.1-0.3 Venezuela -7.6 12.1 3.5 17.3 5.5 23.7 31.3 19.2 21.0 13.5 12.1 16.7 12.2 Asia Corea 3.1 4.6 4.0 4.6 4.0 3.8 3.8 3.0 3.3 3.1 3.3 3.7 2.9 China 9.1 9.0 7.5 9.5 8.5 4.0 3.0 2.4 3.1 2.4 2.8 3.8 3.8 Filipinas 4.7 5.2 4.2 6.1 4.2 5.4 6.8 7.9 7.2 2.8 1.8 3.5 2.1 Hong-Kong 3.2 7.5 4.0 8.1 5.0 0.0 1.0 0.2 4.3 10.0 9.6 9.6 9.1 India 7.2 6.4 6.7 6.5 7.0 4.7 5.0 4.2 3.3 0.5 0.0 0.4-0.2 Indonesia 4.1 4.8 5.0 5.1 5.5 6.5 6.5 6.4 7.3 2.9 1.9 0.9 0.4 Malasia 5.3 6.5 6.3 7.1 6.0 2.2 2.5 2.1 2.4 12.4 10.1 12.5 11.0 Singapur 1.1 8.8 4.4 8.4 4.0 1.8 1.6 1.5 2.5 25.7 23.9 30.4 28.9 Tailandia 6.8 6.2 6.4 6.1 4.6 2.7 1.8 2.9 3.3 3.8 2.0 4.5 4.1 Taiwán 3.3 5.6 4.1 5.7 4.3 1.1 1.5 1.6 2.2 6.9 6.0 6.2 5.2 Europa Bulgaria 4.3 5.2 5.2 5.4 5.5 6.3 3.6 7.0 4.0-8.7-8.3-8.8-7.0 Dinamarca 0.5 2.1 2.5 1.7 1.8 1.8 1.9 España 2.5 2.6 2.9 2.8 2.7-3.4-3.6 Hungría 2.9 3.5 3.7 4.0 3.6 6.9 4.4 5.5 3.6-8.8-8.2-8.8-8.5 Noruega 0.4 2.7 2.7 2.8 3.9 0.5 1.8 1.2 1.5 15.9 16.0 14.0 13.7 Polonia 3.8 5.8 5.1 5.3 4.0 3.7 3.8 4.4 1.5-1.7-2.1-1.5-1.9 Rep. Checa 3.1 3.3 3.4 4.0 3.8 3.2 3.0 2.8 2.0-5.5-4.9-5.2-4.6 Rusia 7.3 7.3 6.6 7.1 6.0 10.3 8.9 11.7 10.0 9.9 7.8 10.2 8.4 Suecia 1.6 3.0 2.5 3.0 2.7 0.9 1.4 0.6 0.3 6.7 5.7 8.1 6.0 Suiza -0.5 1.8 2.2 1.7 1.4 0.7 0.8 1.4 0.9 10.3 10.6 11.5 11.5 Turquía 5.8 7.0 5.0 7.5 4.7 11.4 10.8 9.4 6.9-4.0-3.5-5.2-4.4 Oceanía Australia 3.0 3.6 3.4 2.8 2.5-5.3-4.9 Nueva Zelandia 3.4 4.2 2.0 2.4 2.8-4.4-4.4 Sudáfrica 1.9 2.6 3.3 2.6 5.7-2.0-2.1 G-7 2.2 3.5 3.0 3.2 2.7 1.6 1.6 2.3 1.6-1.2-1.1-1.6-2.1 Alemania -0.1 2.0 1.8 1.0 1.0 1.8 1.3 2.1 1.0 4.4 4.8 3.8 3.2 Canadá 2.0 2.9 3.1 2.8 3.2 1.9 2.2 2.3 1.7 2.9 2.4 2.6 0.8 Estados Unidos 3.0 4.3 3.5 4.4 3.9 3.0 3.0 3.4 2.3-5.4-5.1-5.7-6.2 Francia 0.5 2.6 2.3 2.3 2.2 2.4 2.1 2.3 1.6-0.6-0.6-0.1 0.5 Italia 0.3 1.4 1.9 1.0 1.0 2.1 2.0 2.2 2.0-1.1-0.8-0.8-1.7 Japón 2.5 4.4 2.3 2.6 1.2-0.2-0.1 0.5-0.2 3.4 3.2 3.7 3.3 Reino Unido 2.2 3.4 2.5 3.1 2.7 1.6 1.9 1.4 1.9-2.0-1.9-2.2-3.1 Global (*) 3.9 4.6 4.4 3.8 3.2 3.5 3.2 2.8 2.2 Fuente: Fondo Monetario Internacional, Septiembre del 2004 y JP Morgan, Marzo del 2005 (*) Para el FMI es utilizado el crecimiento ajustado por la paridad del poder de compra FMI Inflación JPMorgan Déf. Cta. Corriente FMI JPMorgan Departamento de Estudios SOFOFA 76

Proyecciones de la Economía Mundial Crecimiento PIB (% var anual) IPC (% var. anual) Cuenta Corriente (%PIB) 2003 2004 2005 2006 2003 2004 2005 2006 2003 2004 2005 2006 Indice Ene 04 Mar 05 Ago 04 Sep 04 Oct 04 Dic 04 Mar 05 Dic 04 Mar 05 Ene 04 Mar 05 Sep 04 Oct 04 Dic 04 Mar 05 Dic 04 Mar 05 Ene 04 Mar 05 Sep 04 Oct 04 Dic 04 Mar 05 Dic 04 Mar 05 América 2.8 4.6 3.7 3.7 3.6 3.7 4.0 3.4 3.4 2.6 3.8 2.6 2.6 2.5 2.9 3.1 3.1-3.8-4.4-4.1-4.3-4.3-4.9 #N/A -5.0 Estados Unidos 3.0 4.4 3.7 3.6 3.5 3.7 3.9 3.4 3.4 1.9 3.4 2.0 2.0 1.9 2.3 2.7 2.7-4.8-5.7-5.1-5.6-5.5-6.2-5.3-6.1 Canadá 2.0 2.8 4.2 4.1 4.0 3.4 3.2 3.5 3.3 1.7 2.3 2.4 2.0 1.9 1.7 2.5 2.5 2.0 2.6 3.1 4.3 3.2 0.8 #N/A 0.6 América Latina 1.9 6.2 3.8 3.9 4.0 3.9 4.4 3.6 3.7 7.2 6.8 6.1 6.1 5.7 6.3 5.6 5.8 0.6 1.3-0.4-0.1-0.1 0.6-0.8-0.7 Argentina 8.8 9.0 4.0 4.0 4.5 5.0 7.0 3.0 3.5 3.7 6.1 7.0 7.5 6.5 9.5 7.0 7.0 5.8 2.0-2.4 0.4 0.3 2.3-0.2 1.5 Brasil 0.5 5.2 3.5 3.5 3.5 3.4 3.5 3.9 3.9 9.3 7.6 5.6 5.6 5.8 5.8 5.0 5.0 0.8 1.9 0.2 0.8 0.5 1.1-0.2 0.3 Chile 3.7 6.1 4.8 4.8 4.8 6.0 6.0 5.0 5.0 1.1 2.4 3.0 2.8 2.7 2.5 3.0 3.0 0.1 1.4 1.4 0.0 2.2 0.6 1.4-1.3 Colombia 3.9 3.8 4.0 4.0 4.0 3.5 3.5 3.3 3.3 6.5 5.5 4.5 5.0 5.5 5.5 5.3 5.2-1.5-1.4-1.7-1.5-0.9-1.2-1.1-1.5 Ecuador 2.7 6.0 3.8 3.8 3.0 3.0 3.5 4.0 4.0 6.1 1.9 3.0 2.5 2.5 2.5 3.5 3.5-1.6 1.8 0.7 0.0-0.3 1.4-1.3 0.1 México 1.4 4.4 4.0 4.0 4.0 3.6 4.0 3.1 3.3 4.0 5.2 3.8 3.6 3.8 3.6 3.5 3.4-1.3-1.3-2.4-2.6-2.5-1.8-3.3-3.2 Perú 3.8 5.1 4.5 4.7 4.7 4.5 4.8 4.0 4.0 2.5 3.5 2.5 2.5 2.5 2.5 3.5 3.5-1.8-0.1 0.4 0.4-0.5-0.3-1.0-0.8 Venezuela -7.7 17.3 2.0 4.5 4.5 3.8 5.5 5.0 5.0 27.1 19.2 25.0 23.0 17.0 21.0 20.0 23.0 10.7 16.7 11.2 10.3 9.3 12.2 7.3 6.0 Asia 3.5 4.5 3.9 3.9 3.7 3.5 3.3 4.2 3.9 1.0 1.5 1.3 1.3 1.4 1.4 1.5 1.6 3.2 3.2 2.6 2.5 2.4 2.9 #N/A 2.7 Japón 1.4 2.6 2.7 2.5 2.2 1.8 1.2 2.6 2.0-0.3 0.5 0.1 0.1 0.0-0.2 0.1 0.2 3.2 3.7 3.5 3.0 3.3 3.3 #N/A 3.5 Asia Emergente 6.6 7.3 5.9 6.0 6.0 6.2 6.4 6.6 6.6 2.6 2.9 2.8 2.8 3.3 3.4 3.3 3.5 4.7 4.4 2.8 3.1 2.6 3.9 2.0 3.1 China 9.3 9.5 7.6 7.6 7.9 8.2 8.5 8.5 8.5 3.2 2.4 1.6 1.6 2.5 3.1 2.8 3.3 3.3 3.8 0.6 2.2 0.6 3.8 0.0 2.9 Hong-Kong 3.2 8.1 4.4 4.6 4.5 5.0 5.0 5.1 5.3-1.9 0.2 1.0 2.4 4.2 4.3 2.4 2.4 10.8 9.6 12.7 9.7 8.3 9.1 8.5 8.2 Indonesia 4.9 5.1 4.0 4.0 4.0 4.6 5.5 5.0 6.0 5.2 6.4 7.3 7.3 7.3 7.3 6.5 6.5 3.1 0.9 2.5 0.5 0.6 0.4 0.7 0.4 Corea 3.1 4.6 4.8 4.7 4.0 4.0 4.0 4.5 4.5 3.4 3.0 3.5 3.5 3.3 3.3 3.5 3.5 2.0 3.7 1.9 1.9 2.3 2.9 1.2 1.8 Malasia 5.3 7.1 6.0 6.0 6.0 6.0 6.0 6.5 6.5 1.2 2.1 2.5 2.5 2.4 2.4 2.4 2.4 12.9 12.5 6.9 8.8 11.1 11.0 8.1 8.0 Singapur 1.4 8.4 3.7 3.7 3.7 4.0 4.0 5.0 5.0 0.7 1.5 2.0 2.1 2.5 2.5 2.3 2.3 30.5 30.4 23.6 23.8 27.1 28.9 29.1 31.0 Taiwán 3.3 5.7 3.2 4.0 4.0 4.3 4.3 4.5 4.5-0.1 1.6 1.5 2.3 2.2 2.2 1.7 1.7 10.2 6.2 9.4 8.2 7.5 5.2 7.5 5.2 Tailandia 6.9 6.1 5.0 5.0 5.0 5.0 4.6 6.0 6.0 1.8 2.9 2.5 2.5 3.3 3.3 3.0 3.0 5.6 4.5 6.1 2.4 3.4 4.1 3.6 4.3 Europa Euro Area 0.5 1.8 2.6 2.6 2.2 1.9 1.6 2.2 2.2 2.0 2.3 1.8 1.7 1.5 1.6 1.6 1.6 0.3 0.5 0.7 0.8 0.7 0.5 #N/A 0.5 Alemania -0.1 1.0 2.5 2.4 2.1 1.5 1.0 1.8 1.8 1.2 2.1 1.5 1.2 0.9 1.0 0.9 0.9 2.4 3.8 3.9 2.9 4.2 3.2 #N/A 3.1 Francia 0.5 2.3 2.6 2.5 2.3 2.1 2.2 2.3 2.3 2.4 2.3 1.6 1.8 1.6 1.6 1.7 1.7 0.7-0.1 1.4 1.1 0.5 0.5 #N/A 1.1 Italia 0.4 1.0 2.2 2.1 1.7 1.6 1.0 2.0 2.0 2.7 2.2 1.8 1.9 2.0 2.0 1.9 1.9-1.3-0.8-1.0-1.0-1.6-1.7 #N/A -1.8 Reino Unido 2.2 3.1 3.0 2.9 2.4 2.5 2.7 2.5 2.5 1.3 1.4 1.8 1.6 1.6 1.9 1.7 1.8-1.7-2.2-3.0-2.9-3.1-3.1 #N/A -3.3 Rusia 7.3 7.1 6.1 6.4 6.1 5.8 6.0 4.5 4.8 12.0 11.7 10.0 10.0 10.0 10.0 8.2 9.4 8.3 10.2 3.7 5.2 5.5 8.4 0.0 3.0 Global (*) 2.4 3.8 3.5 3.4 3.3 3.2 3.2 3.3 3.2 2.2 2.8 2.1 2.1 2.0 2.2 2.3 2.3 Países Desarrollados 1.9 3.2 3.1 3.1 2.8 2.7 2.6 2.9 2.7 1.5 2.3 1.6 1.5 1.5 1.6 1.8 1.8-1.2-1.3-1.1-1.3-1.3-1.6 #N/A -1.6 Economías Emergentes 4.7 6.6 5.0 5.1 5.1 5.2 5.5 5.2 5.3 5.0 4.9 4.5 4.4 4.5 4.7 4.4 4.5 2.9 2.9 1.3 1.7 1.3 2.4 0.4 1.4 (*): Muestra de 45 países de J.P. Morgan Departamento de Estudios SOFOFA 77

Departamento de Estudios SOFOFA 78 V. OTROS

Indicador del Riesgo País Spreads Soberanos de América Latina. (Cierre en Puntos Base de cada mes) Chile* México Argentina Ecuador Brasil EMBI- Latin** Ene-02 169 304 4.379 1.144 866 837 Feb-02 173 272 4.276 1.147 785 765 Mar-02 120 251 5.062 1.037 718 713 Abr-02 137 255 5.004 1.000 849 763 May-02 143 265 5.979 1.184 981 829 Jun-02 209 323 7.074 1.262 1.548 1.063 Jul-02 232 390 7.008 1.780 2.341 1.350 Ago-02 192 360 6.430 1.704 1.630 1.131 Sep-02 218 436 6.553 1.975 2.395 1.399 Oct-02 219 372 6.192 1.854 1.742 1.153 Nov-02 178 311 6.240 1.696 1.606 1.054 Dic-02 176 331 6.391 1.801 1.446 1.007 Ene-03 171 329 6.022 1.524 1.319 977 Feb-03 167 324 6.736 1.522 1.182 943 Mar-03 156 291 6.165 1.372 1.048 869 Abr-03 135 227 5.225 1.103 822 727 May-03 129 236 5.343 1.128 799 707 Jun-03 129 237 4.554 1.178 801 697 Jul-03 117 230 5.046 1.147 801 678 Ago-03 104 220 4.882 1.153 703 639 Sep-03 102 212 5.484 1.121 698 641 Oct-03 91 204 5.705 983 616 600 Nov-03 88 208 6.260 910 533 570 Dic-03 88 199 5.632 799 463 521 Ene-04 94 204 5.764 714 493 536 Feb-04 88 189 4.933 762 579 557 Mar-04 91 183 4.873 701 559 536 Abr-04 92 201 4.628 925 663 598 May-04 92 208 4.964 909 701 626 Jun-04 83 215 5.188 952 650 607 Jul-04 80 201 4.994 852 590 556 Ago-04 70 183 5.258 813 521 524 Sep-04 78 188 5.440 778 469 498 Oct-04 81 183 5.440 745 473 493 Nov-04 73 172 5.194 696 414 451 Dic-04 64 166 4.703 690 382 420 Ene-05 60 162 5.129 644 418 439 Feb-05 59 153 4.980 632 393 419 Mar-05 71 180 5.393 660 458 466 Mar 05-Ene 04-20 -3 520-41 -101-70 Mar 05-Dic 04 7 14 690-30 76 46 Mar 05-Feb 05 12 27 413 28 65 47 * EMBI Global ** Indice Promedio Países Emergentes de América Latina. Fuente: JP Morgan. Spreds Soberanos Argentina 3.000 2.500 2.000 1.500 1.000 500 0 Ene-02 Mar-02 May-02 Jul-02 Sep-02 Nov-02 Ene-03 Mar-03 May-03 Jul-03 Sep-03 Nov-03 Ene-04 Mar-04 May-04 Jul-04 Sep-04 Nov-04 Ene-05 Mar-05 (Puntos Base) Chile* Brasil México Argentina 8.000 7.000 6.000 5.000 4.000 3.000 2.000 1.000 0 Departamento de Estudios SOFOFA 79

Ranking de Ingreso Per Cápita de Países Muestra de 177 Países FMI Rank Rank Rank Rank Rank 97 01 02 03 04 País 1999 2000 2001 2002 2003 2004* 2005* 1 1 1 1 1 Luxembourg 46.221 44.822 44.573 47.618 58.985 66.279 69.056 3 2 2 2 2 Norway 35.432 37.164 37.607 42.010 48.337 52.861 53.465 2 4 3 3 3 Switzerland 36.960 34.156 34.504 37.521 43.391 47.493 49.246 5 6 5 4 4 Denmark 32.548 29.647 29.739 32.108 39.449 43.896 45.015 19 7 7 5 5 Ireland 25.486 25.140 26.932 31.006 38.302 43.862 46.335 9 9 8 7 6 Iceland 30.193 29.767 26.663 29.468 36.190 41.875 44.133 6 3 4 6 7 United States 33.197 34.775 35.507 36.398 37.819 39.991 42.076 7 10 10 9 8 Sweden 28.361 26.970 24.628 26.964 33.605 37.363 38.451 4 5 6 8 9 Japan 35.205 37.431 32.757 31.220 33.678 36.184 36.486 17 11 11 13 10 United Kingdom 24.991 24.575 24.246 26.413 30.140 35.505 36.977 13 13 12 10 11 Netherlands 25.321 23.425 24.054 26.094 31.721 34.836 35.393 12 14 14 11 12 Austria 25.980 23.539 23.406 25.305 31.083 34.627 35.861 14 15 13 12 13 Finland 25.099 23.572 23.356 25.366 30.922 34.318 35.242 20 8 9 18 14 Qatar 21.106 28.519 26.863 28.134 27.496 33.570 33.586 15 18 16 14 15 Belgium 24.579 22.299 22.084 23.874 29.408 32.979 34.081 10 17 15 15 16 Germany 25.715 22.816 22.561 24.119 29.173 32.404 33.099 16 19 18 16 17 France 23.961 21.673 21.699 23.560 28.635 32.153 33.126 21 16 17 17 18 Canada 21.773 23.651 23.102 23.567 27.536 30.439 32.073 18 23 22 20 19 Australia 20.503 19.816 18.465 20.316 25.444 29.712 29.761 22 22 21 19 20 Italy 20.546 18.728 18.974 20.701 25.593 28.649 29.648 11 20 20 22 21 Singapore 21.156 23.051 20.816 21.162 21.523 23.999 25.176 8 12 19 21 22 Hong Kong SAR 24.201 24.638 24.090 23.466 22.757 23.592 24.581 27 28 26 23 23 Spain 15.207 14.057 14.507 16.234 20.601 23.447 24.627 25 29 28 25 24 New Zealand 14.744 13.419 13.112 15.088 19.726 23.120 23.276 23 21 23 24 25 United Arab Emirates 18.198 21.635 19.939 19.103 19.902 21.410 20.960 28 27 29 28 26 Kuwait 13.329 16.677 14.749 14.538 16.430 19.534 19.288 33 32 30 30 27 Cyprus 12.054 11.434 11.671 12.779 16.063 18.098 19.008 32 35 32 31 28 Greece 11.611 10.448 10.720 12.163 15.625 18.036 18.995 29 25 25 27 29 Bahamas, The 15.307 16.469 16.287 16.380 16.866 17.432 18.190 24 24 24 26 30 Israel 17.554 19.004 18.258 16.448 16.911 17.165 16.987 31 26 27 29 31 Netherlands Antilles 13.169 14.204 14.915 15.652 16.188 16.759 17.435 37 38 37 33 32 Slovenia 10.724 9.535 9.837 11.094 13.887 16.439 17.660 35 34 34 32 33 Portugal 11.528 10.537 10.780 11.911 14.410 16.021 16.658 26 31 33 34 34 Brunei Darussalam 12.747 12.755 12.121 12.161 13.173 14.352 14.366 34 37 36 35 35 Korea 9.554 10.885 10.179 11.481 12.631 13.806 14.649 36 33 35 37 36 Bahrain 9.876 11.545 11.154 11.495 12.104 13.423 13.764 30 30 31 36 37 Taiwan Province of China 13.031 13.888 12.548 12.471 12.545 13.359 13.926 39 40 39 38 38 Malta 9.589 9.336 9.433 10.032 11.537 12.029 13.144 40 36 38 39 39 Antigua and Barbuda 9.716 9.915 10.368 10.681 11.124 11.482 11.790 38 41 41 41 40 Saudi Arabia 8.181 9.168 8.775 8.733 9.614 10.663 10.795 41 39 40 40 41 Barbados 9.313 9.687 9.495 9.616 9.979 10.381 10.747 45 42 43 42 42 Oman 6.872 8.478 8.335 8.347 9.262 10.235 10.292 49 48 45 43 43 Czech Republic 5.796 5.423 5.956 7.227 8.792 10.058 10.708 54 51 47 45 44 Hungary 4.766 4.636 5.206 6.552 8.400 10.015 10.896 56 46 46 46 45 Trinidad and Tobago 5.318 6.485 7.004 6.989 8.311 9.545 10.117 44 43 42 44 46 Seychelles 7.752 7.644 7.606 8.635 8.499 8.567 8.892 47 45 44 47 47 St. Kitts and Nevis 7.072 6.714 7.025 7.270 7.641 8.195 8.546 69 57 50 48 48 Estonia 3.774 3.761 4.159 4.959 6.472 8.058 8.885 55 55 49 49 49 Croatia 4.524 4.188 4.507 5.181 6.403 7.336 7.764 59 61 53 51 50 Slovak Republic 3.780 3.752 3.873 4.482 6.021 7.329 7.963 57 47 48 50 51 Mexico 4.976 5.957 6.274 6.425 6.112 6.377 6.566 73 69 57 53 52 Lithuania 3.076 3.252 3.474 4.090 5.267 6.212 6.796 58 53 51 52 53 Poland 4.249 4.300 4.794 4.938 5.399 5.912 6.373 78 68 59 55 54 Latvia 3.010 3.250 3.480 3.925 4.716 5.633 6.150 48 56 54 58 55 Chile 4.858 4.943 4.440 4.318 4.574 5.571 5.742 65 70 69 57 56 Botswana 3.238 3.356 3.300 3.339 4.660 5.503 5.713 53 54 52 54 57 Lebanon 4.891 4.753 4.734 4.817 4.928 5.225 5.434 43 50 68 60 58 Libya 5.894 6.521 5.543 3.495 4.293 5.209 5.317 51 64 60 56 59 Gabon 3.971 4.228 3.811 3.917 4.675 5.140 4.911 61 63 63 61 60 Mauritius 3.661 3.758 3.818 3.799 4.244 4.841 5.421 62 59 55 59 61 Panama 4.004 4.082 4.067 4.139 4.296 4.615 4.806 70 76 72 68 62 Turkey 3.092 3.199 2.360 2.774 3.452 4.428 4.637 52 66 61 63 63 Malaysia 3.485 3.844 3.665 3.880 4.151 4.418 4.701 68 60 58 64 64 Grenada 3.725 4.002 3.911 4.060 4.103 4.386 4.692 64 58 56 62 65 Costa Rica 4.101 4.058 4.084 4.123 4.208 4.308 4.484 128 93 81 77 66 Equatorial Guinea 778 1.273 1.689 2.101 2.824 4.032 6.235 67 62 62 65 67 St. Lucia 3.955 4.038 3.823 3.848 3.934 4.021 4.095 60 52 64 70 68 Venezuela 4.357 5.015 5.166 3.787 3.338 4.019 4.014 (*) Proyección del World Economic Outlook de Septiembre de 2004 Departamento de Estudios SOFOFA 80

Ranking de Ingreso Per Cápita de Países Muestra de 177 Países FMI Rank Rank Rank Rank Rank 97 01 02 03 04 País 1999 2000 2001 2002 2003 2004* 2005* 74 77 76 74 69 Russia 1.341 1.778 2.111 2.395 3.020 4.016 4.750 71 67 65 66 70 Belize 3.137 3.420 3.494 3.657 3.831 3.977 4.120 42 44 74 72 71 Argentina 7.751 7.675 7.184 2.681 3.325 3.740 4.132 63 75 77 69 72 South Africa 3.043 2.932 2.565 2.345 3.444 3.687 3.886 66 65 67 67 73 Dominica 3.734 3.769 3.710 3.536 3.554 3.643 3.772 77 71 70 71 74 St. Vincent and the Grenadines 2.964 3.004 3.116 3.219 3.329 3.512 3.719 46 49 66 73 75 Uruguay 6.332 6.046 5.555 3.653 3.196 3.489 3.874 50 72 73 76 76 Brazil 3.197 3.604 3.013 2.689 2.837 3.182 3.311 102 92 86 79 77 Bulgaria 1.581 1.547 1.696 1.989 2.550 3.059 3.325 96 85 83 78 78 Romania 1.589 1.649 1.793 2.046 2.553 3.012 3.277 72 73 71 75 79 Jamaica 2.839 2.835 2.963 2.914 2.962 2.986 3.003 83 79 79 81 80 Tunisia 2.195 2.034 2.065 2.149 2.535 2.881 3.052 81 88 80 80 81 Suriname 2.046 2.003 1.749 2.104 2.537 2.760 2.785 98 96 97 91 82 Kazakhstan 1.138 1.236 1.491 1.655 2.001 2.580 3.185 79 84 85 84 83 Thailand 1.985 1.967 1.836 1.996 2.230 2.556 2.807 127 99 89 82 84 Turkmenistan 845 1.062 1.431 1.873 2.266 2.518 2.784 100 102 98 92 85 Belarus 1.207 1.309 1.316 1.600 1.972 2.458 2.992 91 86 94 89 86 Algeria 1.630 1.789 1.779 1.783 2.080 2.448 2.601 90 87 95 90 87 Iran, Islamic Republic of 1.666 1.510 1.773 1.774 2.055 2.429 2.608 88 94 90 83 88 Macedonia, Former Yugoslav Repub 1.817 1.761 1.682 1.838 2.254 2.399 2.570 80 81 84 86 89 Peru 1.903 1.942 1.947 2.014 2.131 2.290 2.379 86 78 82 85 90 Maldives 2.119 2.168 2.105 2.095 2.207 2.256 2.355 82 91 99 87 91 Namibia 1.894 1.857 1.698 1.537 2.125 2.241 2.333 122 105 104 101 92 Albania 1.018 1.084 1.238 1.396 1.758 2.230 2.434 75 80 78 88 93 Fiji 2.296 2.033 2.030 2.169 2.088 2.143 2.199 84 95 93 94 94 Ecuador 1.310 1.228 1.590 1.804 1.957 2.082 2.168 110 101 101 98 95 Bosnia and Herzegovina 1.316 1.256 1.321 1.466 1.807 2.071 2.167 89 98 102 104 96 Tonga 1.635 1.642 1.433 1.451 1.609 2.059 2.226 76 82 91 102 97 Colombia 2.072 2.000 1.935 1.836 1.741 2.033 2.119 104 104 103 97 98 Cape Verde 1.399 1.241 1.278 1.410 1.812 2.033 2.161 95 83 87 93 99 El Salvador 1.757 1.817 1.860 1.926 1.963 2.009 2.063 92 90 92 95 100 Guatemala 1.560 1.599 1.700 1.832 1.898 1.953 1.966 94 103 108 100 101 Swaziland 1.428 1.416 1.279 1.172 1.777 1.906 2.043 93 89 96 99 102 Jordan 1.660 1.675 1.717 1.761 1.800 1.903 1.988 85 74 75 96 103 Dominican Republic 2.142 2.396 2.587 2.494 1.860 1.822 2.014 97 100 100 103 104 Samoa 1.359 1.387 1.407 1.509 1.672 1.750 1.821 103 109 107 105 105 Morocco 1.248 1.161 1.162 1.200 1.433 1.541 1.576 99 107 109 106 106 Vanuatu 1.345 1.276 1.193 1.171 1.361 1.394 1.440 125 124 121 118 107 Angola 475 685 651 764 950 1.348 1.580 114 113 113 109 108 Congo, Republic of 834 1.109 933 981 1.129 1.331 1.401 107 108 106 107 109 Syrian Arab Republic 1.058 1.160 1.183 1.200 1.204 1.328 1.386 113 118 117 112 110 Ukraine 633 632 777 875 1.032 1.293 1.589 120 114 111 110 111 China 788 853 921 989 1.089 1.227 1.352 87 106 112 113 112 Paraguay 1.453 1.414 1.224 981 1.019 1.155 1.170 106 110 110 111 113 Bolivia 1.107 1.096 1.033 1.029 1.055 1.118 1.137 101 97 105 108 114 Egypt 1.437 1.551 1.461 1.278 1.188 1.083 1.118 131 121 120 120 115 Azerbaijan 572 653 701 773 887 1.047 1.237 111 112 114 115 116 Guyana 940 957 954 965 987 1.034 1.035 116 111 115 114 117 Honduras 859 929 961 963 993 1.026 1.062 105 115 116 116 118 Philippines 1.019 979 900 951 964 1.019 1.084 108 122 119 117 119 Indonesia 675 715 673 804 954 1.003 1.093 115 117 118 119 120 Sri Lanka 815 847 796 828 904 982 1.052 121 127 126 123 121 Georgia 550 615 611 651 769 866 927 117 126 125 121 122 Côte d'ivoire 768 648 634 670 775 836 859 123 131 129 127 123 Cameroon 616 578 540 601 740 832 860 129 123 124 124 124 Bhutan 581 618 654 706 761 804 859 139 128 127 129 125 Armenia 486 504 578 622 725 795 868 118 120 122 122 126 Djibouti 743 744 750 751 770 794 822 119 119 123 125 127 Nicaragua 760 782 774 750 754 777 794 126 130 128 128 128 Kiribati 645 571 546 609 727 760 768 132 132 131 130 129 Senegal 519 479 474 507 634 715 745 109 129 132 131 130 Papua New Guinea 696 676 561 505 614 686 660 130 139 135 133 131 Moldova 321 354 407 457 536 630 665 140 134 133 132 132 India 438 454 459 473 543 603 652 147 137 134 134 133 Sudan 355 392 427 470 530 586 643 146 143 141 138 134 Benin 390 361 368 406 495 560 583 138 135 140 142 135 Haiti 531 496 437 419 468 557 650 134 140 137 139 136 Pakistan 437 437 400 440 493 538 577 (*) Proyección del World Economic Outlook de Septiembre de 2004 Departamento de Estudios SOFOFA 81

Ranking de Ingreso Per Cápita de Países Muestra de 177 Países FMI Rank Rank Rank Rank Rank 97 01 02 03 04 País 1999 2000 2001 2002 2003 2004* 2005* 135 152 151 135 137 Lesotho 413 370 310 337 503 536 546 141 142 142 136 138 Comoros 403 352 370 394 499 530 554 175 136 138 141 139 Yemen, Republic of 368 452 432 435 469 526 553 112 125 130 137 140 Solomon Islands 813 714 637 514 498 518 534 136 138 136 140 141 Mongolia 384 399 422 454 481 512 547 164 165 164 158 142 Chad 210 187 217 256 327 506 567 177 116 88 126 143 Zimbabwe 509 632 879 1.882 754 498 277 154 146 150 145 144 Nigeria 299 357 362 341 415 496 528 148 141 139 143 145 Vietnam 372 391 393 424 450 494 528 144 144 143 144 146 Kenya 359 347 366 394 436 466 489 176 148 147 148 147 Zambia 307 314 345 350 390 454 461 137 145 146 147 148 Mauritania 383 361 363 357 394 432 452 142 156 154 149 149 Ghana 429 272 281 318 384 424 451 157 160 157 153 150 Mali 268 240 265 280 367 412 435 159 163 161 154 151 Burkina Faso 271 230 247 277 352 405 424 149 150 152 151 152 Lao People's Democratic Republic 286 330 320 324 371 401 421 153 151 148 150 153 São Tomé and Príncipe 327 315 316 346 375 398 372 152 149 149 152 154 Bangladesh 332 329 328 344 369 394 418 133 147 145 146 155 Guinea 431 376 357 367 403 381 375 145 154 153 155 156 Kyrgyz Republic 257 278 306 321 350 381 413 124 133 144 157 157 Uzbekistan 700 557 467 383 341 357 376 143 159 156 156 158 Togo 339 278 269 290 346 354 357 156 161 162 161 159 Central African Republic 283 259 255 270 304 339 356 155 157 155 160 160 Cambodia 272 276 280 297 306 321 327 161 158 159 162 161 Tanzania 266 270 274 279 287 290 323 150 162 158 163 162 Uganda 301 293 250 280 281 287 296 166 167 166 167 163 Mozambique 244 211 195 199 233 278 294 151 153 163 164 164 Gambia, The 336 318 307 265 246 268 284 168 168 168 168 165 Niger 193 167 175 190 232 265 273 169 171 169 165 166 Tajikistan 175 162 163 186 240 261 275 160 155 160 159 167 Madagascar 248 250 285 278 323 242 263 165 164 165 166 168 Nepal 213 229 237 230 234 239 246 163 170 173 171 169 Guinea-Bissau 191 180 164 160 183 199 204 167 169 170 169 170 Sierra Leone 142 132 164 186 190 193 207 162 166 167 170 171 Rwanda 235 215 198 196 185 184 189 158 172 171 173 172 Malawi 179 166 160 175 157 165 174 174 174 172 172 173 Myanmar 188 195 151 164 158 142 135 170 173 174 174 174 Eritrea 182 155 160 147 132 138 157 172 177 175 175 175 Congo, Democratic Republic of 87 85 97 101 100 116 122 173 176 177 176 176 Ethiopia 105 103 99 90 96 114 121 171 175 176 177 177 Burundi 128 110 101 94 87 96 103 (*) Proyección del World Economic Outlook de Septiembre de 2004 Departamento de Estudios SOFOFA 82

Ranking de Competitividad World Economic Forum. 2004-2005 País Growth Growth Competitiveness Competitiveness Index 2004 Index 2003 País Technology Index (50%) Public Institutions Index (25%) Macroeconomic Environment Index (25%) Finland 1 1 Finland 3 3 3 United States 2 2 United States 1 21 15 Sweden 3 3 Sweden 4 6 17 Taiwan 4 5 Taiwan 2 27 9 Denmark 5 4 Denmark 6 1 4 Norway 6 9 Norway 10 5 2 Singapore 7 6 Singapore 11 10 1 Switzerland 8 7 Switzerland 7 8 5 Japan 9 11 Japan 5 16 29 Iceland 10 8 Iceland 14 2 12 United Kingdom 11 15 United Kingdom 18 7 8 Netherlands 12 12 Netherlands 16 13 7 Germany 13 13 Germany 12 11 26 Australia 14 10 Australia 17 12 14 Canada 15 16 Canada 13 18 18 United Arab United Arab 16 Emirates Emirates 25 19 11 Austria 17 17 Austria 22 15 10 New Zealand 18 14 New Zealand 24 4 22 Israel 19 20 Israel 8 24 43 Estonia 20 22 Estonia 15 26 30 Hong Kong SAR 21 24 Hong Kong SAR 34 9 13 Chile 22 28 Chile 32 20 27 Spain 23 23 Spain 20 34 16 Portugal 24 25 Portugal 23 23 34 Belgium 25 27 Belgium 31 22 19 Luxembourg 26 21 Luxembourg 41 14 6 France 27 26 France 30 25 25 Bahrain 28 Bahrain 35 28 28 Korea 29 18 Korea 9 41 35 Ireland 30 30 Ireland 37 17 21 Malaysia 31 29 Malaysia 27 38 20 Malta 32 19 Malta 21 30 47 Slovenia 33 31 Slovenia 26 31 39 Thailand 34 32 Thailand 43 45 23 Jordan 35 34 Jordan 51 29 36 Lithuania 36 40 Lithuania 33 43 33 Greece 37 35 Greece 38 44 31 Cyprus 38 Cyprus 39 33 45 Hungary 39 33 Hungary 29 37 55 Czech Republic 40 39 Czech Republic 19 51 41 South Africa 41 42 South Africa 40 35 48 Tunisia 42 38 Tunisia 58 36 32 Slovak Republic 43 43 Slovak Republic 28 49 54 Latvia 44 37 Latvia 36 52 37 Botswana 45 36 Botswana 64 39 42 China 46 44 China 62 55 24 Italy 47 41 Italy 50 48 38 Mexico 48 47 Mexico 48 59 49 Mauritius 49 46 Mauritius 44 65 50 Costa Rica 50 51 Costa Rica 55 47 64 Trinidad and Trinidad and 51 49 Tobago Tobago 54 64 44 Namibia 52 52 Namibia 66 40 62 El Salvador 53 48 El Salvador 69 46 53 Uruguay 54 50 Uruguay 56 32 90 India 55 56 India 63 53 52 Morocco 56 61 Morocco 74 42 46 Brazil 57 54 Brazil 42 50 80 Panama 58 59 Panama 53 60 61 Bulgaria 59 64 Bulgaria 59 56 60 Poland 60 45 Poland 45 80 51 Croatia 61 53 Croatia 46 76 59 Egypt 62 58 Egypt 65 70 57 Departamento de Estudios SOFOFA 83 Fuente: World Economic Forum

Ranking de Competitividad World Economic Forum. 2004-2005 País Growth Growth Competitiveness Competitiveness Index 2004 Index 2003 País Technology Index (50%) Public Institutions Index (25%) Macroeconomic Environment Index (25%) Romania 63 75 Romania 47 74 71 Colombia 64 63 Colombia 68 61 66 Jamaica 65 67 Jamaica 49 69 83 Turkey 66 65 Turkey 52 62 84 Peru 67 57 Peru 71 58 68 Ghana 68 71 Ghana 78 54 65 Indonesia 69 72 Indonesia 73 68 63 Russian Federation 70 70 Russian Federation 67 89 56 Algeria 71 74 Algeria 98 67 40 Dominican Republic Dominican 72 62 Republic 60 71 93 Sri Lanka 73 68 Sri Lanka 81 72 73 Argentina 74 78 Argentina 57 79 94 Gambia 75 55 Gambia 85 57 88 Philippines 76 66 Philippines 61 99 69 Vietnam 77 60 Vietnam 92 82 58 Kenya 78 83 Kenya 72 75 86 Uganda 79 80 Uganda 77 86 75 Guatemala 80 89 Guatemala 79 84 79 Bosnia and Bosnia and 81 Hercegovina Hercegovina 82 78 85 Tanzania 82 69 Tanzania 84 88 72 Zambia 83 88 Zambia 90 66 95 Macedonia, FYR 84 81 Macedonia, FYR 76 92 77 Venezuela 85 82 Venezuela 70 91 98 Ukraine 86 84 Ukraine 83 97 76 Malawi 87 76 Malawi 97 63 100 Mali 88 99 Mali 101 83 70 Serbia and Serbia and 89 77 Montenegro Montenegro 75 85 102 Ecuador 90 86 Ecuador 88 90 89 Pakistan 91 73 Pakistan 87 102 67 Mozambique 92 93 Mozambique 94 94 81 Nigeria 93 87 Nigeria 89 96 87 Georgia 94 Georgia 80 101 92 Nicaragua 95 90 Nicaragua 96 81 97 Madagascar 96 96 Madagascar 99 95 78 Honduras 97 94 Honduras 93 100 82 Bolivia 98 85 Bolivia 95 87 96 Zimbabwe 99 97 Zimbabwe 86 73 104 Paraguay 100 95 Paraguay 91 98 101 Ethiopia 101 92 Ethiopia 103 77 99 Bangladesh 102 98 Bangladesh 100 104 74 Angola 103 100 Angola 102 93 103 Chad 104 101 Chad 104 103 91 Departamento de Estudios SOFOFA 84 Fuente: World Economic Forum

Ranking de Libertad Económica The Heritage Foundation 2005 rank País Puntaje Carga Intervención Política Inversión Banca/ Salario/ Derechos Mercado Comercio Regulación Total Fiscal Gubernamental Monetaria Extranjera Finanzas Precios de Propiedad Negro 1 Hong Kong 1,35 1,0 2,0 2,0 1,0 1,0 1,0 2,0 1,0 1,0 1,5 2 Singapore 1,60 1,0 2,5 3,5 1,0 1,0 2,0 2,0 1,0 1,0 1,0 3 Luxembourg 1,63 2,0 3,3 2,0 1,0 1,0 1,0 2,0 1,0 2,0 1,0 4 Estonia 1,65 1,0 2,0 2,0 1,0 1,0 1,0 2,0 2,0 2,0 2,5 5 Ireland 1,70 2,0 2,5 2,0 2,0 1,0 1,0 2,0 1,0 2,0 1,5 6 New Zealand 1,70 2,0 4,0 2,0 1,0 1,0 1,0 2,0 1,0 2,0 1,0 7 United Kingdom 1,75 2,0 4,0 2,5 1,0 1,0 1,0 2,0 1,0 2,0 1,0 8 Denmark 1,76 2,0 3,6 3,0 1,0 2,0 1,0 2,0 1,0 1,0 1,0 9 Iceland 1,76 2,0 2,6 3,0 2,0 2,0 1,0 1,0 1,0 2,0 1,0 10 Australia 1,79 2,0 3,9 2,0 1,0 2,0 1,0 2,0 1,0 2,0 1,0 11 Chile 1,81 1,0 2,6 2,0 1,0 2,0 2,0 2,0 1,0 3,0 1,5 12 Switzerland 1,85 2,0 3,0 2,5 1,0 2,0 1,0 2,0 1,0 3,0 1,0 13 United States 1,85 2,0 4,0 2,0 1,0 2,0 1,0 2,0 1,0 2,0 1,5 14 Sweden 1,89 2,0 3,9 3,0 1,0 1,0 1,0 2,0 1,0 3,0 1,0 15 Finland 1,90 2,0 3,5 2,5 1,0 2,0 2,0 2,0 1,0 2,0 1,0 16 Canada 1,91 2,0 2,6 2,5 1,0 3,0 2,0 2,0 1,0 2,0 1,0 17 The Netherlands 1,95 2,0 4,5 3,0 1,0 1,0 1,0 2,0 1,0 3,0 1,0 18 Germany 2,00 2,0 3,5 2,0 1,0 1,0 3,0 2,0 1,0 3,0 1,5 19 Austria 2,09 2,0 4,4 2,0 1,0 2,0 2,0 2,0 1,0 3,0 1,5 20 Bahrain 2,10 3,0 2,0 4,5 1,0 2,0 1,0 2,0 1,0 2,0 2,5 21 Belgium 2,13 2,0 4,3 2,5 1,0 1,0 2,0 3,0 1,0 3,0 1,5 22 Cyprus 2,13 3,0 1,8 2,0 2,0 3,0 2,0 2,0 1,0 2,0 2,5 23 Lithuania 2,18 2,0 2,8 2,0 1,0 2,0 1,0 2,0 3,0 3,0 3,0 24 El Salvador 2,20 2,0 3,0 1,5 1,0 2,0 2,0 2,0 3,0 2,0 3,5 25 The Bahamas 2,25 5,0 1,5 2,0 1,0 3,0 2,0 3,0 1,0 2,0 2,0 26 Italy 2,28 2,0 4,3 2,0 1,0 2,0 2,0 2,0 2,0 3,0 2,5 27 Taiwan 2,29 2,0 3,4 3,0 1,0 2,0 2,0 2,0 2,0 3,0 2,5 28 Latvia 2,31 2,0 2,1 2,5 1,0 2,0 2,0 2,0 3,0 3,0 3,5 29 Malta 2,33 3,0 4,3 3,0 1,0 3,0 1,0 2,0 1,0 2,0 3,0 30 Norway 2,33 2,0 3,8 3,5 1,0 3,0 3,0 2,0 1,0 3,0 1,0 31 Spain 2,34 2,0 4,4 2,0 2,0 2,0 2,0 2,0 2,0 3,0 2,0 32 Barbados 2,35 4,0 4,5 2,0 1,0 3,0 2,0 2,0 1,0 2,0 2,0 33 Czech Republic 2,36 3,0 3,6 2,5 1,0 2,0 1,0 2,0 2,0 3,0 3,5 34 Israel 2,36 2,0 4,1 2,5 1,0 2,0 3,0 2,0 2,0 3,0 2,0 35 Hungary 2,40 3,0 2,0 2,0 2,0 2,0 2,0 3,0 2,0 3,0 3,0 36 Slovak Republic 2,43 3,0 1,8 2,0 3,0 2,0 1,0 2,0 3,0 3,0 3,5 37 Botswana 2,44 1,0 3,4 4,5 3,0 2,0 2,0 2,0 2,0 2,0 2,5 38 Portugal 2,44 2,0 3,9 2,5 2,0 2,0 3,0 2,0 2,0 3,0 2,0 39 Japan 2,46 2,0 3,6 2,0 1,0 3,0 4,0 2,0 2,0 3,0 2,0 40 Trinidad and Tobago 2,49 2,0 3,9 2,0 2,0 2,0 2,0 3,0 2,0 3,0 3,0 41 Poland 2,54 2,0 2,9 2,0 1,0 3,0 2,0 3,0 3,0 3,0 3,5 42 Armenia 2,58 2,0 2,3 2,5 2,0 2,0 1,0 3,0 3,0 4,0 4,0 43 Uruguay 2,60 2,0 3,0 2,5 4,0 2,0 3,0 2,0 2,0 3,0 2,5 44 France 2,63 2,0 4,3 5,0 1,0 2,0 3,0 2,0 2,0 3,0 2,0 45 Korea, Republic of (South Korea) 2,64 3,0 3,9 2,5 2,0 2,0 3,0 2,0 2,0 3,0 3,0 46 Slovenia 2,64 2,0 3,4 2,5 3,0 3,0 3,0 2,0 3,0 2,0 2,5 47 Belize 2,66 4,0 2,6 2,0 1,0 3,0 3,0 2,0 3,0 3,0 3,0 48 Madagascar 2,68 2,0 3,3 1,5 2,0 3,0 3,0 2,0 3,0 3,0 4,0 49 United Arab Emirates 2,68 2,0 1,3 4,0 1,0 3,0 4,0 3,0 3,0 3,0 2,5 50 Bolivia 2,70 2,0 3,0 2,0 1,0 3,0 2,0 2,0 4,0 4,0 4,0 51 Mongolia 2,70 1,0 3,5 2,5 2,0 3,0 3,0 2,0 3,0 4,0 3,0 52 Bulgaria 2,74 2,0 2,4 2,5 2,0 3,0 2,0 2,0 4,0 4,0 3,5 53 Panama 2,74 3,0 3,4 3,5 1,0 2,0 2,0 2,0 4,0 3,0 3,5 54 Costa Rica 2,76 3,0 3,6 2,0 3,0 2,0 3,0 2,0 3,0 3,0 3,0 55 Kuwait 2,76 2,0 1,6 4,5 1,0 4,0 3,0 3,0 3,0 3,0 2,5 56 Peru 2,78 4,0 3,3 2,0 1,0 2,0 2,0 2,0 4,0 4,0 3,5 57 South Africa 2,78 2,0 3,8 2,0 3,0 3,0 3,0 2,0 3,0 3,0 3,0 58 Jordan 2,79 4,0 3,9 3,0 1,0 2,0 2,0 3,0 3,0 3,0 3,0 59 Greece 2,80 2,0 4,0 2,0 2,0 3,0 3,0 3,0 3,0 3,0 3,0 60 Jamaica 2,81 4,0 4,1 2,5 3,0 1,0 2,0 2,0 3,0 3,0 3,5 61 Oman 2,81 3,0 1,6 4,5 1,0 3,0 3,0 4,0 3,0 3,0 2,0 62 Cape Verde 2,84 5,0 3,4 2,0 1,0 3,0 3,0 2,0 3,0 2,0 4,0 63 Cambodia 2,89 4,0 2,4 2,5 1,0 3,0 2,0 2,0 4,0 4,0 4,0 64 Mexico 2,89 3,0 3,9 3,5 2,0 3,0 2,0 2,0 3,0 3,0 3,5 65 Mauritius 2,90 5,0 3,0 2,0 2,0 3,0 2,0 4,0 2,0 3,0 3,0 66 Nicaragua 2,90 2,0 3,0 2,0 2,0 3,0 2,0 3,0 4,0 4,0 4,0 67 Albania 2,93 4,0 2,8 2,5 1,0 2,0 3,0 2,0 4,0 4,0 4,0 68 Mauritania 2,93 3,0 3,3 2,0 2,0 2,0 2,0 3,0 4,0 4,0 4,0 69 Macedonia 2,95 4,0 2,0 3,5 1,0 3,0 2,0 2,0 4,0 4,0 4,0 70 Malaysia 2,96 3,0 3,1 3,0 1,0 4,0 4,0 3,0 3,0 3,0 2,5 71 Thailand 2,98 3,0 3,8 2,5 1,0 4,0 3,0 3,0 3,0 3,0 3,5 72 Saudi Arabia 2,99 4,0 1,4 4,5 1,0 4,0 4,0 2,0 3,0 3,0 3,0 73 Senegal 2,99 3,0 4,4 2,0 1,0 3,0 3,0 3,0 3,0 4,0 3,5 74 Croatia 3,00 4,0 3,0 2,5 1,0 3,0 2,0 3,0 4,0 4,0 3,5 75 Uganda 3,00 3,0 4,0 2,0 2,0 3,0 2,0 2,0 4,0 4,0 4,0 76 Lebanon 3,05 3,0 2,5 3,0 1,0 4,0 2,0 3,0 4,0 4,0 4,0 77 Moldova 3,06 2,0 2,6 2,0 3,0 4,0 3,0 3,0 3,0 4,0 4,0 78 Swaziland 3,06 2,0 3,6 2,0 3,0 4,0 3,0 3,0 3,0 3,0 4,0 79 Guyana 3,08 4,0 3,8 3,0 2,0 3,0 2,0 2,0 3,0 4,0 4,0 80 Sri Lanka 3,08 3,0 3,3 2,0 3,0 3,0 4,0 3,0 3,0 3,0 3,5 81 Namibia 3,10 2,0 4,0 3,0 3,0 3,0 3,0 3,0 4,0 3,0 3,0 Departamento de Estudios SOFOFA 85 Fuente: The Heritage Foundation

Ranking de Libertad Económica The Heritage Foundation 2005 rank País Puntaje Carga Intervención Política Inversión Banca/ Salario/ Derechos Mercado Comercio Regulación Total Fiscal Gubernamental Monetaria Extranjera Finanzas Precios de Propiedad Negro 82 Qatar 3,10 3,0 2,0 4,5 2,0 4,0 3,0 3,0 3,0 4,0 2,5 83 Tunisia 3,14 5,0 3,9 2,5 1,0 4,0 4,0 2,0 3,0 3,0 3,0 84 Bosnia and Herzegovina 3,16 3,0 2,6 2,5 1,0 4,0 2,0 3,0 5,0 5,0 3,5 85 Guatemala 3,18 3,0 3,8 2,0 3,0 4,0 2,0 2,0 4,0 4,0 4,0 86 Mali 3,18 3,0 4,3 2,5 1,0 3,0 4,0 3,0 4,0 3,0 4,0 87 Morocco 3,18 5,0 3,8 2,5 1,0 2,0 4,0 3,0 4,0 3,0 3,5 88 Colombia 3,21 4,0 4,1 3,5 3,0 3,0 2,0 2,0 4,0 3,0 3,5 89 Ukraine 3,21 3,0 2,6 2,5 2,0 4,0 3,0 3,0 4,0 4,0 4,0 90 Brazil 3,25 4,0 3,0 4,0 4,0 3,0 3,0 2,0 3,0 3,0 3,5 91 The Philippines 3,25 2,0 3,5 2,0 2,0 4,0 4,0 3,0 4,0 4,0 4,0 92 Ivory Coast 3,26 4,0 4,6 2,0 2,0 3,0 2,0 3,0 4,0 4,0 4,0 93 Burkina Faso 3,28 4,0 3,8 3,0 1,0 3,0 3,0 3,0 4,0 4,0 4,0 94 Fiji 3,28 4,0 3,3 2,5 2,0 4,0 3,0 3,0 4,0 3,0 4,0 95 Guinea 3,28 4,0 4,3 1,5 3,0 4,0 2,0 2,0 4,0 4,0 4,0 96 Kenya 3,28 5,0 3,3 2,0 3,0 3,0 3,0 2,0 3,0 4,0 4,5 97 Kyrgyz Republic 3,29 3,0 3,4 2,5 2,0 4,0 3,0 3,0 4,0 4,0 4,0 98 Djibouti 3,30 5,0 3,5 3,5 1,0 3,0 3,0 2,0 4,0 4,0 4,0 99 Ghana 3,30 4,0 3,0 1,5 5,0 3,0 4,0 3,0 3,0 3,0 3,5 100 Georgia 3,34 4,0 2,4 1,5 3,0 4,0 3,0 3,0 4,0 4,0 4,5 101 Mozambique 3,34 4,0 3,4 2,0 4,0 2,0 3,0 3,0 4,0 4,0 4,0 102 Lesotho 3,36 2,0 4,1 3,5 3,0 4,0 3,0 3,0 3,0 4,0 4,0 103 Azerbaijan 3,38 3,0 3,3 3,0 1,0 4,0 4,0 3,0 4,0 4,0 4,5 104 Chad 3,38 5,0 4,8 2,0 1,0 3,0 3,0 2,0 4,0 4,0 5,0 105 Egypt 3,38 4,0 4,3 3,0 2,0 3,0 4,0 3,0 3,0 4,0 3,5 106 Gabon 3,40 5,0 4,0 3,0 1,0 3,0 4,0 3,0 3,0 4,0 4,0 107 The Gambia 3,40 3,0 4,0 2,0 4,0 3,0 3,0 3,0 4,0 4,0 4,0 108 Zambia 3,40 3,0 4,0 2,0 5,0 3,0 3,0 3,0 3,0 4,0 4,0 109 Tanzania 3,41 5,0 3,6 2,5 2,0 4,0 2,0 3,0 4,0 4,0 4,0 110 Honduras 3,43 3,0 3,3 4,0 3,0 4,0 2,0 3,0 4,0 4,0 4,0 111 Paraguay 3,45 3,0 3,0 3,0 4,0 3,0 3,0 3,0 4,0 4,0 4,5 112 China, People's Republic of 3,46 4,0 4,1 3,0 1,0 4,0 4,0 3,0 4,0 4,0 3,5 113 Turkey 3,46 3,0 3,6 2,5 5,0 3,0 4,0 3,0 3,0 4,0 3,5 114 Algeria 3,49 5,0 3,9 4,0 1,0 3,0 4,0 3,0 4,0 3,0 4,0 115 Argentina 3,49 4,0 3,9 2,0 4,0 3,0 4,0 3,0 4,0 3,0 4,0 116 Ecuador 3,49 4,0 2,9 2,0 4,0 4,0 3,0 3,0 4,0 4,0 4,0 117 Central African Republic 3,51 5,0 4,1 4,0 2,0 2,0 3,0 3,0 4,0 4,0 4,0 118 Equatorial Guinea 3,53 4,0 2,8 1,5 3,0 4,0 3,0 4,0 4,0 4,0 5,0 119 India 3,53 5,0 4,3 3,0 2,0 3,0 4,0 3,0 3,0 4,0 4,0 120 Niger 3,53 5,0 4,3 3,0 1,0 3,0 3,0 3,0 4,0 4,0 5,0 121 Dominican Republic 3,54 4,0 3,4 1,5 4,0 3,0 4,0 4,0 4,0 4,0 3,5 122 Indonesia 3,54 2,0 3,4 3,5 3,0 4,0 4,0 3,0 4,0 4,0 4,5 123 Rwanda 3,54 3,0 4,4 2,0 2,0 4,0 4,0 3,0 4,0 4,0 5,0 124 Russia 3,56 3,0 3,1 2,5 4,0 4,0 4,0 3,0 4,0 4,0 4,0 125 Romania 3,58 3,0 3,3 2,5 5,0 4,0 3,0 3,0 4,0 4,0 4,0 126 Cameroon 3,60 5,0 4,0 3,5 1,0 3,0 4,0 3,0 4,0 4,0 4,5 127 Nepal 3,60 5,0 3,0 2,0 2,0 4,0 4,0 3,0 4,0 4,0 5,0 128 Benin 3,63 5,0 4,3 4,0 1,0 4,0 3,0 3,0 4,0 4,0 4,0 129 Malawi 3,65 4,0 4,0 3,5 4,0 3,0 4,0 3,0 3,0 4,0 4,0 130 Kazakhstan 3,66 4,0 3,1 2,5 3,0 5,0 4,0 3,0 4,0 4,0 4,0 131 Togo 3,68 3,0 4,8 3,0 1,0 4,0 4,0 3,0 4,0 5,0 5,0 132 Yemen 3,70 4,0 4,0 4,0 3,0 3,0 4,0 3,0 4,0 4,0 4,0 133 Ethiopia 3,73 5,0 4,3 3,0 3,0 3,0 4,0 3,0 4,0 4,0 4,0 134 Pakistan 3,73 5,0 4,3 3,0 2,0 4,0 4,0 4,0 4,0 3,0 4,0 135 Sierra Leone 3,78 5,0 4,3 2,5 2,0 4,0 4,0 2,0 5,0 5,0 4,0 136 Congo, Republic of 3,80 5,0 5,0 4,0 1,0 4,0 4,0 3,0 4,0 4,0 4,0 137 Vietnam 3,83 5,0 3,8 3,5 1,0 4,0 4,0 3,0 5,0 5,0 4,0 138 Guinea Bissau 3,85 5,0 3,0 2,5 2,0 3,0 5,0 3,0 5,0 5,0 5,0 139 Syria 3,90 5,0 4,0 4,5 1,0 4,0 5,0 4,0 4,0 4,0 3,5 140 Suriname 3,93 4,0 4,3 3,0 5,0 4,0 4,0 3,0 3,0 4,0 5,0 141 Bangladesh 3,95 5,0 3,5 3,5 2,0 4,0 5,0 3,0 4,0 5,0 4,5 142 Nigeria 3,95 5,0 3,0 4,0 4,0 4,0 4,0 3,0 4,0 4,0 4,5 143 Belarus 3,99 3,0 3,4 3,5 5,0 4,0 4,0 5,0 4,0 5,0 3,0 144 Tajikistan 4,00 3,0 3,5 4,0 4,0 4,0 5,0 4,0 4,0 4,0 4,5 145 Haiti 4,04 3,0 3,9 3,0 5,0 4,0 4,0 3,0 5,0 5,0 4,5 146 Venezuela 4,09 4,0 3,4 3,5 5,0 5,0 4,0 4,0 4,0 4,0 4,0 147 Uzbekistan 4,10 3,0 3,0 4,0 5,0 4,0 5,0 4,0 4,0 5,0 4,0 148 Iran 4,16 2,0 3,6 5,0 4,0 4,0 5,0 4,0 5,0 5,0 4,0 149 Cuba 4,29 4,0 4,4 4,5 2,0 4,0 5,0 5,0 5,0 4,0 5,0 150 Laos 4,33 4,0 4,3 3,0 4,0 4,0 5,0 4,0 5,0 5,0 5,0 151 Turkmenistan 4,36 5,0 2,6 5,0 4,0 4,0 5,0 4,0 5,0 4,0 5,0 152 Zimbabwe 4,36 4,0 4,1 2,5 5,0 5,0 5,0 5,0 5,0 4,0 4,0 153 Libya 4,40 5,0 5,0 4,0 1,0 5,0 5,0 5,0 5,0 5,0 4,0 154 Burma (Myanmar) 4,60 5,0 3,0 4,5 5,0 5,0 5,0 4,0 5,0 5,0 4,5 Korea, Democratic Republic of (North 155 Korea) 5,00 5,0 5,0 5,0 5,0 5,0 5,0 5,0 5,0 5,0 5,0 Departamento de Estudios SOFOFA 86 Fuente: The Heritage Foundation