Credit Cards Anticipate Deceleration in Guatemala

Faced with the crisis, issuers see young people and the lower middle class socioeconomic level (C / D) as vulnerable.

Friday, April 3, 2009

In 2009, the Guatemalan credit card sector will have difficulty sustaining the 15% to 20% growth it has maintained in the last few years. This growth led the industry to reach more than 1 million customers, a portfolio of $751 million and revenue of $220 million in 2008.

In a report in elperiodico.com.gt, the behavior of the different market segments was analyzed in the face of the crisis. It indicated that "the most vulnerable to falling into delinquency are young and lower middle class consumers (C/D)", and it highlighted the opportunities that exist: "Segment A has the greatest potential for growth as do some parts of the C + segment. "

More on this topic

El Salvador will need more international loans

February 2009

No matter who wins the elections, the country will need to resort to international loans to face the crisis.

The Central American Institute of Fiscal Studies (Icefi), will elaborate an analysis of the consequences of the financial crisis in the region, focusing on 4 of the main ways for the crisis to spread: remittances, commerce, tourism and foreign direct investment.

Anticrisis plant presented in Costa Rica

January 2009

The Government of Costa Rica is putting emphasis on social spending and investment in public works as measures to deal with the contraction of the economy.

Labor flexibility, expansion of unemployment benefits, adjustment of rates for credit at state banks, the reduction of work hours, increase in pension benefits, are some of the measures announced in the "Plan Escudo" (Shield Plan).

Fitch: Severe Global Recession Expected in 2009

November 2008

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

In aggregate GDP growth in these countries is expected to be (minus) -0.8% in 2009, compared to an estimated 1.1% for 2008. Tighter credit conditions, consumer retrenchment and falling corporate investment are expected to combine to deliver an unusually synchronised downturn across the advanced economies.

Honduras faces food crisis

April 2008

With three million people living in extreme poverty and 29 percent of the nation's children suffering from malnutrition, rising world food prices will have a devastating effect on Honduras, the daily El Heraldo warns in an editorial.

Basic foods have to be made available at accessible prices, including subsidies for the poorest, the newspaper says, and that goal can only be achieved by a joint effort involving international organizations, the government, producers and society in general.

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