No Latin American country will be saved from crisis

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.

Monday, October 27, 2008


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Daboub, ex minister of Economy for El Salvador, will be in Panama next week and in his country of origin, where he will participate in the Ibero-American Summit. The institution has said that it is willing to double its loans for Latin America, which this year totaled $5 billion.

Daboub believes that all of Latin America will feel the impact due to the decrease in credit globally and the reduction in external demand, which will translate into...

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Alternative financing options for the private sector

October 2008

In times of credit crunch from the usual sources, it is appropriate to remember that there are other alternatives for financing projects.

The Andean Development Corporation (CAF), the International Finance Corporation (IFC) of the World Bank, the Inter-American Investment Corporation (IIC) of the IDB, and the Central American Economic Integration Bank (BCIE) are all sources of financing for high impact development projects by the private sector which are highly unused by our bankers and businesses.

Stocks Soar by 11% After Aid to Banks

October 2008

The Dow Jones industrial average opened 400 points higher and never looked back, led by big gains in financial stocks.

Last week’s stock sell-off gave way to a big rally, with the Dow Jones industrial average having its largest-ever point gain. The surge came as countries around the world took steps to ease the financial crisis, ushering in a drastic reshaping of the banking industry even as doubts lingered about its long-term effects.

Forecast calls for drop in exports, tourism, investment and remittances

October 2008

For Eduardo Lizano, President of the Central American Academy, the fast benefits that were expected from the DR-CAFTA may not materialize

Due to the financial crisis in the US and Europe, Central America can expect to see a drop exports, tourism, real estate investments, and remittances sent home by immigrant workers, he said in an interview with IPS.

Tight Credit May Result In Massive Layoffs

October 2008

The business sector is warning that the Costa Rica could enter a crisis of massive layoffs if they cannot finance their activities.

The warning is based on the scarcity of credit both from the public and private banks, which is causing many companies not to have sufficient financial resources to continue operations or expand.

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