Sieca: World Crisis creates uncertainty in Central America

The financial crisis in the US is creating an atmosphere of uncertainty in Central America and the magnitude of the impact it will have in the region still cannot be determined.

Friday, October 10, 2008

According to the report, the financial crisis in the United States can have effects such as "a reduction remittances to families, which in 2007 was at $14.19 billion, and a drop in the construction industry," as many immigrants are building their homes in their countries and they may see a decrease in their income. Thirdly, Central America will see a reduction in exports to the US as a result of the economic contraction, and fourth, the region will see a decrease in foreign investments.
"All this will have an immediate effect that will cause unemployment to rise in the region, which by itself is normally high," said the minister.



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Costa Rica and the Effects of an International Crisis

September 2011

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.

No Latin American country will be saved from crisis

October 2008

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.

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.

Analysts see adverse effects in the Salvadoran economy

September 2008

Lower economic activity and the rise in interest rates are signs that the economy is being affected by the financial crisis in the US.

Some economic analysts warned yesterday that the effects from the financial crisis in the United States, which has been going on for over a year and which has gotten worse recently, are beginning to show up in the Salvadoran economy.

The Lehman effect on Guatemala

September 2008

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.

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