The market must solve the financial crisis

Four economists conclude that the market must fix itself in order to solve the financial crisis in the United States.

Monday, October 20, 2008

In the round table organized by the Academy of Central America, the economists Juan Muñoz, Eduardo Lizano, Isaac Castro, and Jorge Guardia shared their assessment of the causes and possible solutions for the crisis that began with the fall of property prices in the United States.

More on this topic

El Salvador needs $1 billion to deal with the crisis

November 2008

This is the amount that the Salvadoran Foundation for Social and Economic Development recommends getting in the contingency credit.

According to a report published yesterday by the foundation "we must urge the Central Reserve (BCR) to negotiate a contingency fund of $1 billion from the IMF, making use of the new line of credit that the Bank has opened.

No Latin American country will be saved from crisis

October 2008

The financial crisis will affect all Latin American countries, despite the fact that they are better position than in the past to withstand it, said Juan Jose Daboub, general director of the World Bank.

Daboub, ex minister of Economy for El Salvador, will be in Panama next week and in his country of origin, where he will participate in the Ibero-American Summit.

Forecast calls for drop in exports, tourism, investment and remittances

October 2008

For Eduardo Lizano, President of the Central American Academy, the fast benefits that were expected from the DR-CAFTA may not materialize

Due to the financial crisis in the US and Europe, Central America can expect to see a drop exports, tourism, real estate investments, and remittances sent home by immigrant workers, he said in an interview with IPS.

What do to when there is no credit

October 2008

With banks barely lending and interest rates up, each company should review their available financing options.

Most small and medium company are not able to use existing instruments which are out of their reach and can mainly be used by investment bankers and financial consultants.

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