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Faced with major macroeconomic change and a legacy of crisis, national financial systems in Latin America are struggling to fulfill their ideal role of promoting saving and investment and intermediating efficiently between the two. "Strengthening the Financial Sector in the Adjustment Process" assesses the gains and setbacks of financial sectors in Argentina, Brazil, Colombia and Uruguay. The studies look first at the structure, costs, regulations and efficiency of the financial systems themselves, taking into account characteristics specific to each country. The role of the financial sector relative to each country's macroeconomic situation is also examined. In Argentina, a successful stabilization programme serves as the starting point for analysis of financial sector development. The persistence of high inflation directs the Brazilian study to the relationship between the financial system and the inflationary process. The Colombian financial system is depicted as segmented and poorly developed, although reform policies in place since 1990 have helped unify the system. Finally, the Uruguayan study points to two peculiarities of the country's financial system: it is highly dollarized and the only banks are public or foreign.