Devaluation to affect Panama

The financial collapse in the US will, sooner or later, cause a strong drop in the dollar, Carlos Dias warned.

Friday, September 26, 2008

"I don't believe that there will be a total collapse, that will only happen if China, Japan and Saudi Arabia stop buying US Treasury bonds; but if we are projecting that in December the Euro will be worth $1.70, that devaluation will have a very strong inflationary effect here," Dias said.
In this scenario, inflation in Panama would be in the double digits for this year, he suggested.

More on this topic

Guatemala: 7 Months of Crisis

September 2009

Key economic indicators show less economic deterioration than other countries of the region.

An article in Prensa Libre published comments by two Guatemalan economists, Mario Cuevas and Carlos González Arévalo. The former is president of the Center for Economic Investigations (CIEN), while the latter represents the Association for Social Studies and Investigations.

Commodity prices, financial crisis, regional inflation

December 2008

Outlook Report December 2008 from the Executive Secretariat of the Central American Monetary Policy.

The disruption of prices in the international market for commodities: petroleum, steel, copper, and basic food, and especially, the recent problems with the US financial system and other countries and regions in the world that are affecting employment and other economic variables, are two of the situations that have significant implications for the region.

Hard economic times may just be starting

October 2008

The finantial crisis in USA will especially hurt Mexico and Central America, whose economies are closely tied to the U.S. market.

Don't be fooled by the universal sigh of relief that was heard Friday when the U.S. Congress approved a $700 billion package to rescue the U.S. banking system.

Prudence and final crisis

September 2008

The dreaded recession in the US has proven to be a difficult phenomenon to forecast. One year ago most people were predicting that there would a slight recession and that it wouldn't last long.

Some were predicting that by the second or third quarter of this year the US economy would be out of danger.

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