According to analysts Guatemala's economy is still safe

Guatemalan analysts agree that the country will not receive a direct impact from the international financial crisis.

Tuesday, September 30, 2008

Carlos Gonzalez, an economist from the Association of Investigations and Social Studies, affirmed that he does not foresee any direct impact, however he said that this could happen if the US economy continues to slip and therefore affect Guatemalan exports, remittances and employment.

Cesar Garcia, an analyst at Certez Consulting, explained that as the US economy contracts, there will be less sales and more unemployment.

"We are yet to see what are the main effect of the US crisis on its trading partners and the damages that it will cause to countries such as China and those in Europe.

Miguel Gutierrez, from Central American Business Intelligence, indicated that it is important to continue monitoring the increase in unemployment and the decrease of economic activity in the US.

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More on this topic

Alternative financing options for the private sector

October 2008

In times of credit crunch from the usual sources, it is appropriate to remember that there are other alternatives for financing projects.

The Andean Development Corporation (CAF), the International Finance Corporation (IFC) of the World Bank, the Inter-American Investment Corporation (IIC) of the IDB, and the Central American Economic Integration Bank (BCIE) are all sources of financing for high impact development projects by the private sector which are highly unused by our bankers and businesses.

Tight Credit May Result In Massive Layoffs

October 2008

The business sector is warning that the Costa Rica could enter a crisis of massive layoffs if they cannot finance their activities.

The warning is based on the scarcity of credit both from the public and private banks, which is causing many companies not to have sufficient financial resources to continue operations or expand.

No Latin American country will be saved from crisis

October 2008

The financial crisis will affect all Latin American countries, despite the fact that they are better position than in the past to withstand it, said Juan Jose Daboub, general director of the World Bank.

Daboub, ex minister of Economy for El Salvador, will be in Panama next week and in his country of origin, where he will participate in the Ibero-American Summit.

Why has this crisis occurred?

October 2008

The current financial crisis demonstrates how powerful and decisive the expectations of investors and the economic agents in general can be.

Expectations created a bubble in the prices of homes and properties in the US. By bubble I mean a price established mainly due to optimism (which can be irrational - even though there is experimental evidence that bubbles can be created when all the investors are rational - Vernon Smith).

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