Dollarization Increases in Guatemala
More and more products and services are being sold with prices set in U.S. Dollars.
Thursday, September 10, 2009
Maynor Cabrera, a researcher from the Central American Institute for Fiscal Studies (Icefi), identified a process of "slow dollarization".
The IMF points to a greater vulnerability in the financial sector because of credit expansion in dollars and on the macroeconomic level because of the inability to reduce the fiscal deficit.
The volatility that the dollar has shown brings back to table the discussion on whether or not to dollarize the Costa Rican economy.
An Argentine expert predicts that if the Salvadoran economy abandons the dollar it would trigger serious social upheaval ... and Argentines know all about that...
In a strange unanimity, government officials agree with independent economic analysts: dollarization is inconvenient for Guatemala.
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