Devaluation to affect Panama

The financial collapse in the US will, sooner or later, cause a strong drop in the dollar, Carlos Dias warned.

Friday, September 26, 2008

"I don't believe that there will be a total collapse, that will only happen if China, Japan and Saudi Arabia stop buying US Treasury bonds; but if we are projecting that in December the Euro will be worth $1.70, that devaluation will have a very strong inflationary effect here," Dias said.
In this scenario, inflation in Panama would be in the double digits for this year, he suggested.

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October 2008

The finantial crisis in USA will especially hurt Mexico and Central America, whose economies are closely tied to the U.S. market.

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