Nicaragua presents plan for global crisis

The measures presented by the Government include the reduction of public spending, the promotion of food production and the development of

Wednesday, January 21, 2009

Invertia.com reports: "The president said that they will request $500 million from the Central American Bank for Economic Integration (BCIE) and the Inter-American Development Bank (IDB), in order to push infrastructure projects and promote production.

At the same time, the Government will reduce its spending on goods and services by 20%, and by 50% for expenditure for the acquisition of vehicles and trips abroad, and at the same time it requested that the other branches of Government to reduce their spending.

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Anticrisis plant presented in Costa Rica

January 2009

The Government of Costa Rica is putting emphasis on social spending and investment in public works as measures to deal with the contraction of the economy.

Labor flexibility, expansion of unemployment benefits, adjustment of rates for credit at state banks, the reduction of work hours, increase in pension benefits, are some of the measures announced in the "Plan Escudo" (Shield Plan).

Fitch: Severe Global Recession Expected in 2009

November 2008

Fitch Ratings predicts that the world's major advanced economies will next year experience the steepest decline in GDP since World War II.

In aggregate GDP growth in these countries is expected to be (minus) -0.8% in 2009, compared to an estimated 1.1% for 2008. Tighter credit conditions, consumer retrenchment and falling corporate investment are expected to combine to deliver an unusually synchronised downturn across the advanced economies.

Key meeting of SICA concerning the crisis

December 2008

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

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.

Infrastructure: the multiplying factor

November 2008

The Minister of Public Works of Panama es convinced that to weather the crisis investment in infrastructure must be widened. Below he explains how he is doing that.

With an estimated growth of 9% for 2009, Panama will be the Latin American country with the greatest economic expansion next year, according to a forecast by the International Monetary Fund (IMF).

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