The Crash of 1929, the Current Crisis and the Macro-Economic Adjustment in the Region
The current crisis is still unveiling and its broader regional reach and consequences are still unknown. What is known is that the impact is undeniable.
Friday, November 7, 2008
Even though the region has not experienced an immediate effect, its important to wonder how the macroeconomic adjustment may happen in our countries.
Although the product has remained steady in its level of potential, the country's economic prospects are not as promising due to the weakening of economic fundamentals.
The agency emphasized prudent management of the macroeconomic policy and stressed the need to focus efforts on reducing fiscal and external vulnerabilities.
Fitch Ratings predicts that the world's major advanced economies will next year experience the steepest decline in GDP since World War II.
The sovereign rating B + with stable outlook is based on the "economic performance, low debt burden of the government, political stability and partnership between government and the private sector through dialogue".
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