The crisis hits Guatemala

The international crisis has started to show in the country, according to indicators, consumption has been one of the most affected.

Wednesday, December 3, 2008

A sign of this is the income from remittances recorded by the Bank of Guatemala (Ban-guat), which after an increase of 14.3% as of November 20, 2007, this year for the same period the increase was only 5.0%.

The most revealing thing was that, according to the International Organization for Immigration, 50% of what is sent home by Guatemalans in the United States is used from consumption. Up to now there had been now drop, however the slowdown of the growth rate is significant.

Another important point is the tax income. The Tax Superintendence (SAT) reported that the domestic Value Added Tax (VAT) up to October of last year showed an increase of 37.3% while for the same period this year it was only 4.5%.



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Costa Rica and the Effects of an International Crisis

September 2011

A report by Aldesa analyzes the effects for Costa Rica of a potential international crisis.

According to Aldesa:

During this week the market has been permeated by an air of positivity due to expectations that European authorities will solve the problem of the debt crisis. However, if more events occur, there would still be risks for the global economy that could trigger a slowdown in the U.S. and Europe.

Central American Banks: Special Report

September 2011

Fitch Ratings has issued a special report entitled, "Central American Banking: After the Crisis, a Disparate Evolution"

In Fitch's opinion the banks have shown a mixed performance in Central America during the period of the global financial crisis. At the same time, banking systems have dissimilar perspectives on future performance, reflecting different economic growth prospects in the region.

Analysts see adverse effects in the Salvadoran economy

September 2008

Lower economic activity and the rise in interest rates are signs that the economy is being affected by the financial crisis in the US.

Some economic analysts warned yesterday that the effects from the financial crisis in the United States, which has been going on for over a year and which has gotten worse recently, are beginning to show up in the Salvadoran economy.

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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