For micro-enterprises, who usually do not have assets to offer as collateral, good payment history is the best asset in order to access credit.
In an article in Siglo21.com Francisco Madrid, general manager of Finsol, says "’If we are talking about small businesses and their difficulties in getting loans, from the standpoint of traditional banks we will find that their main difficulties are that they lack financial reports and do not having formal guarantees to support any loans. "
You can find data on national accounts, inflation, unemployment, payment balance, fiscal indicators, international trade and raw material prices.
The IMF published a series of selected macroeconomic data and raw material prices by country and region, with a two year projection, as part of the statistical appendix to the biannual report on global economic prospects.
Fitch expects that Latin America’s real GDP will contract by 0.9% in 2009, with Brazil’s economy stagnating at best and Mexico contracting by over 2%.
Latin American economies have recoupled with the crisis in the developed economies. Since September 2008, Latin American countries have been buffeted by stronger external headwinds, as evident from the fall in regional currencies and stock markets and from widening bond spreads.
As a result of sustained economic reforms over the last couple of years, El Salvador’s macroeconomic fundamentals are relatively solid.
Like in other Central American countries, however, economic growth has
decelerated in recent months on the back of the U.S. slowdown and still high commodity prices. The global financial turmoil and, possibly, electoral uncertainty, have led to some tightening in domestic financial conditions.
Like in other Central American countries, economic growth is expected to decelerate, on the back of the U.S. slowdown.
While real GDP growth rose to 4.7 percent in 2007, a record high in the last decade, it is expected to decelerate to 3.2 percent in 2008. However, the monthly economic activity indicator has signaled a mild but steady slowdown thereafter, reaching an average growth rate of 3.2 percent in the year to August. Headline inflation increased from 4.9 percent (year-on-year) in December 2007 to 9.9 percent this August, mainly due to soaring global commodity (food and fuel) prices. With the sharp decline in commodity prices more recently, inflation fell to 5.3 percent in November. The current account deficit widened in the first part of the year, with strong exports and resilient remittances only partly offsetting higher fuel prices, but is expected to moderate reflecting lower commodity prices and a slower domestic demand. Foreign Direct Investment flows have subsided after their unusually high level in 2007 related to the foreign purchase of banks, but remain relatively strong so far.
Caribbean-Central American Action (CCAA) is a private, independent organization that promotes private sector-led economic development in the Caribbean Basin and throughout the Hemisphere.
Operates in Panama, Nicaragua, Honduras, Guatemala, El Salvador, Costa Rica and Caribbean Community
Phone: (202) 331-9467
Expeditors, a publicly owned company, provides logistics solutions that touch on all aspects of the supply chain. For 30 years, Expeditors employees have worked diligently with our customers to increase order visibility, reduce surplus inventory, control inflated delivery-cycle times, monitor and assign accountability and reduce overall supply chain costs.
Operates in Costa Rica, El Salvador, Guatemala, Nicaragua, Honduras and Panama
Phone: (506 ) 2437 4747 - (506) 2430 0327