The Central Bank of Nicaragua (BCN) monitoring financial crisis
The BCN said that it is monitoring the evolution of the international financial crisis and advised banks to act with "prudence"; it did not dismiss the possibility of the effects on the Nicaraguan economy
Wednesday, October 1, 2008
"We are monitoring the evolution of the behavior of international interest rates, the granting of credit by big international banks to local Nicaraguan banks," Antenor Rosales, president of the BCN, said.
Experts predict that the American financial crisis will be felt through fewer credit flows, foreign investment, exports and remittances.
The Central Bank of Nicargua will maintain its economic growth objectives, estimated at around 3% to 4%, despite the financial crisis.
When the true economic value is too far from the fabulous figures invented by financial engineering, crisis - and an adjustment - is inevitable.
"The global financial crisis has cause the main investment bank in the US to go bankrupt and will produce an strong impact on the Honduras' weak economy.
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