37% of businessmen believe that in the next three months their sales will drop by up to 15%, while two of 10 estimate that at the end of 2009 their business with the US will decrease by 20%.
The export sector of the country believes that the blows from the economic crisis in the United States are around the corner. Almost 4 in 10 of those surveyed perceive that the international markets have shrunk, meaning that, in the short term, there will be a drop in their sales, according to a survey carried out by the El Salvador Corporation of Exporters (COEXPORT).
Experts predict that the American financial crisis will be felt through fewer credit flows, foreign investment, exports and remittances.
The National financial system is not showing signs of infection. Jose Angel Lopez, president of the Banking Association of Guatemala (ABG), indicated that the banks have their investments in the Central Bank, in government bonds, credits and other assets, hence their exposure to the American banks is minimum.
The export and industrial sector in the country has indicated that market conditions have worsened.
"We are now feeling a reduction in credit access, with the consolidation of the banks there is now a restrictive policy, and the international financial crisis is causing more credit to be closed due to the demand for capital in other markets," Jorge Arriaza, executive director of the Salvadoran Industrial Associacion (ASI), manifested.
Guatemalan analysts agree that the country will not receive a direct impact from the international financial crisis.
Carlos Gonzalez, an economist from the Association of Investigations and Social Studies, affirmed that he does not foresee any direct impact, however he said that this could happen if the US economy continues to slip and therefore affect Guatemalan exports, remittances and employment.
A report by Aldesa analyzes the effects for Costa Rica of a potential international crisis.
According to Aldesa:
During this week the market has been permeated by an air of positivity due to expectations that European authorities will solve the problem of the debt crisis. However, if more events occur, there would still be risks for the global economy that could trigger a slowdown in the U.S. and Europe.
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