Key meeting of SICA concerning the crisis

Tomorrow, leaders from the region will analyze a packet of recommendations on how to deal with the crisis.

Thursday, December 4, 2008

The heads of governments will analyze the plan that they requested from the specialized technical institutions of SICA to measure the impact that the global financial crisis could have on the region. They hope that the set of recommendations will allow the various governments to adopt adequate measures to reduce the impact.

Different specialists project difficult economic outlooks for the region, starting from March 2009 at the least and which would last some 18 months.

More on this topic

Central American Banks: Special Report

September 2011

Fitch Ratings has issued a special report entitled, "Central American Banking: After the Crisis, a Disparate Evolution"

In Fitch's opinion the banks have shown a mixed performance in Central America during the period of the global financial crisis. At the same time, banking systems have dissimilar perspectives on future performance, reflecting different economic growth prospects in the region.

From Recession to Recovery: How Soon and How Strong?

April 2009

FMI: "Recessions associated with financial crises tend to be severe. Recoveries from such recessions are typically slow."

If such recessions are globally synchronized then they tend to last even longer and be followed by recoveries that are even weaker.

Countercyclical policies can be helpful in ending recessions and strengthening recoveries.

Central America: One single voice in face of crisis

December 2008

The Ministries of Foreign Affairs and Economic and Social Integration in Central America started a working session to evaluate the possibility of speaking with "one voice" regarding the global financial crisis.

Honduran Minister of Foreign Affairs, Angel Orellana, inaugurated the first session of the meetings which will conclude this evening and at which its is expected that a formal document will be presented to the leaders of the Central American Integration System (SICA), which will convene tomorrow for the XXXIII Ordinary Summit of Head of State and Government of the organization.

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.

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