Fitch: The worse part of the crisis has still not arrived to El Salvador

Fitch warns that credit restrictions will stop private investment and, with that, economic activity will decline.

Thursday, February 19, 2009

Elsalvador.com publishes in its website: "The executive director of the risk assessors, Fitch Ratings, Mauricio Choussy, calculated that the crisis will have a transfer delay of some three quarters from the United States to the Central American region, a forecast that was confirmed by the former minister of the Salvadorian Economy, Yolanda de Gavidia, ´I believe that El Salvador has not yet felt the worse part and my perception is that it is going to be in the upcoming second semester that we are going to feel it,´ she affirmed."



More on this topic

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.

Central America: External Vulnerabilities in Focus

October 2008

This special report examines the channels through which Fitch-rated sovereigns in this sub-region could be impacted by external shocks, the robustness of their various policy frameworks and the implications for creditworthiness of increasingly challenging international conditions.

The US financial crisis has spread across the international financial system.

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 Honduras

September 2008

"The global financial crisis has cause the main investment bank in the US to go bankrupt and will produce an strong impact on the Honduras' weak economy.

"Economic growth will stop, limiting access to credit and as a result the upward trend of interest rates will continue," the ex-president of the Central Bank of Honduras, Maria Elena Mondragon, warned.

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