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.

More on this topic

Nicaragua keeps growth goals

October 2008

The Central Bank of Nicargua will maintain its economic growth objectives, estimated at around 3% to 4%, despite the financial crisis.

Despite the financial crisis in the US, Nicaragua is not going to change its economic growth projections of 3% to 4% because "it was calculated based on the price of petroleum" which has been falling, said the president of the Bank, Antenor Rosales, to local station, Channel 8.

The financial crisis: the inevitable adjustment

October 2008

When the true economic value is too far from the fabulous figures invented by financial engineering, crisis - and an adjustment - is inevitable.

Cristóbal Perez-Jerez Alvarado, MBA in international economics, analyzes, with the very much needed academic indifference of today (and also the very scarce common sense), the current financial crisis.

The Lehman effect on Honduras

September 2008

"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.

"Economic growth will stop, limiting access to credit and as a result the upward trend of interest rates will continue," the ex-president of the Central Bank of Honduras, Maria Elena Mondragon, warned.

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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