World Bank: 18-month economic crisis predicted for Central America

The consequences in Central America of the turblance in the world economy will be a decline in exports and remissions, and higher unemployment.

Wednesday, April 23, 2008

Marcelo Giugale, the World Bank's director of the department of economics and poverty reduction for Latin America, said yesterday the most optimistic scenario forecast by World Bank analysts is for a "short, shallow crisis" that lasts about four quarters, of which one has already passed. But, he warned, 20 per cent of the World Bank's experts worry that a more pessimistic scenario could unfold, in which the crisis lasts a year and a half.

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