Key meeting of SICA concerning the crisis

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

Thursday, December 4, 2008

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. They hope that the set of recommendations will allow the various governments to adopt adequate measures to reduce the impact.

Different specialists project difficult economic outlooks for the region, starting from March 2009 at the least and which would last some 18 months.

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Fitch Ratings has issued a special report entitled, "Central American Banking: After the Crisis, a Disparate Evolution"

In Fitch's opinion the banks have shown a mixed performance in Central America during the period of the global financial crisis. At the same time, banking systems have dissimilar perspectives on future performance, reflecting different economic growth prospects in the region.

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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.

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