"Government should intervene whenever they have to"
The president of the El Salvador Stock Exchange explained his vision about the financial crisis in the US and its root causes: lack of efficient supervision.
Monday, October 13, 2008
Rolando Duarte Schalegeter has been the president of the Exchange since 1999. This entity, in which all buying and selling of stock are carried out and the offering of public debt by the Government, is recognized as one of the region's most modern, and has headed the process of integrating regional capital markets along with Costa Rica and Panama.
The global financial crisis and its implications for El Salvador are topics that will be analyzed by Rolando Durate Schlageter, president of the Stock Exchange, on Wednesday 15 October.
The Lehman Brothers bankruptcy will not directly affect the Salvadoran financial and stock market, but analysts point to effects on the macro-economy.
The State will have to intervene rationally in the economy in order to strengthen the internal market and adopt new social protection measures.
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.
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