The Lehman effect on Costa Rica
Analysts and economic gurus are forecasting a dark future for the Costa Rican economy, after the failure of Lehman Brothers.
Wednesday, September 17, 2008
Things could get worse with the announce on Sunday of the sudden sale of Merrill Lynch, in which the Central Bank of Costa Rica probably has some assets, to Bank of America.
Lower economic activity and the rise in interest rates are signs that the economy is being affected by the financial crisis in the US.
"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.
The Lehman Brothers bankruptcy will not directly affect the Salvadoran financial and stock market, but analysts point to effects on the macro-economy.
The fall of Lehman Brothers and the sale of Merrill Lynch shook stock markets all over the world.
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