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


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Even though the region has not experienced an immediate effect, its important to wonder how the macroeconomic adjustment may happen in our countries.
First of all, in the last years the region has experienced an improvement in its economic fundamentals, even though the external situation has dampened it, specially when compared to the rest of Latin America. This external effects are outside the reach of internal economic policy.

Indeed, if we make the theoretical abstraction that the economic fundamentals are visible in the current account, the balance of payments and the fiscal situation...



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From a statement issued by the International Monetary Fund (IMF):

This note summarizes preliminary findings and recommendations of the IMF staff mission that visited Costa Rica during October 28–November 11 to conduct the 2014 Article IV consultation.

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From a communiqué by the International Monetary Fund:

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Fitch Ratings predicts that the world's major advanced economies will next year experience the steepest decline in GDP since World War II.

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From a statement issued by the Central Bank of Nicaragua:

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