IMF: Worst yet to come
The International Monetary Fund (IMF) supports rescue plans but warns that the banks will have greater losses.
Tuesday, October 7, 2008
The IMF warned that losses related to loans in the US and financial assets linked to these could reach $1.4 trillion.
"The global financial crisis has cause the main investment bank in the US to go bankrupt and will produce an strong impact on the Honduras' weak economy.
Experts predict that the American financial crisis will be felt through fewer credit flows, foreign investment, exports and remittances.
Banking monetary and authorities in the country have ruled out a direct impact on Guatemala's economy.
Analysts and economic gurus are forecasting a dark future for the Costa Rican economy, after the failure of Lehman Brothers.
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