In 1990, as the Debt Crisis was winding up, net direct investment flows to Latin America totaled only $ billion; by 1997, this figure had risen to $ billion. Portfolio capital flows also have grown very substantially.
Such was for instance the case in the late 1970s, after the collapse of the Bretton- Woods system of fixed exchange rates. And it was the case in the late 1980s, around the time when the Louvre and Plaza-agreements on exchange rates were concluded.