Central America: One single voice in face of crisis

The Ministries of Foreign Affairs and Economic and Social Integration in Central America started a working session to evaluate the possibility of speaking with "one voice" regarding the global financial crisis.

Friday, December 5, 2008


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Honduran Minister of Foreign Affairs, Angel Orellana, inaugurated the first session of the meetings which will conclude this evening and at which its is expected that a formal document will be presented to the leaders of the Central American Integration System (SICA), which will convene tomorrow for the XXXIII Ordinary Summit of Head of State and Government of the organization.

Central America is seeking a united voice in the face of the international financial crisis, a a result of an "imported model", the Honduran vice minister of Foreign Affairs, Patricia Licona, said to the press. She has been participating in the technical meetings in preparation for meeting of the leaders.



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December 2008

Tomorrow, leaders from the region will analyze a packet of recommendations on how to deal with the crisis.

The heads of governments will analyze the plan that they requested from the specialized technical institutions of SICA to measure the impact that the global financial crisis could have on the region.

Region Takes Measures Against Global Crisis

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Central America and the Dominican Republic have agreed together to ensure financial liquidity, create mechanisms for monitoring risk management and financial systems, as well as taking measures against the effects of the euro zone crisis and the weakness of U.S.

Carlos Acevedo, president of the Central Reserve Bank of El Salvador, told Prensalibre.com that "we are preparing a regional financial system and shielding mechanisms."

Regional plan prepared to deal with crisis

November 2008

Ministers of the Economy and Foreign Trade from Central America prepared a plan to jointly deal with the impact of the economic recession that will occur in 2009 in the region.

The adopted measures will be used to jointly mitigate the negative effects.

"The coordination instruments will be announced by the presidents at the meeting which will be held on December 5 in Tegucigalpa, Honduras," reported Romulo Caballeros, Guatemalan minister of Economy

The Cultural Background to the Financial Crisis

August 2011

Economics, like politics, echoes and reflects the culture and values prevailing in each society.

There are a number of European countries facing serious financial difficulties as a result of the mismanagement of public finances. The situation is serious, and the globalization of financial markets threatens to spread these difficulties worldwide.

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