Some effects of the financial crisis in Guatemala

This week, the news is about the continued crisis in the US financial sector and its impact on the economic sectors around the world.

Friday, September 19, 2008

At the time of this writing, one of the main investment banks (Morgan Stanley) was about to enter negotiations for its purchase by a Chinese bank. And while we have heard a lot of information about names related to the financial sector in the US such as Goldman, Washington Mutual, Citigroup, etc., the question that arises is will this financial crisis affect Guatemala, and how?

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.

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.

Direct impact of US crisis in Guatemala ruled out

September 2008

Banking monetary and authorities in the country have ruled out a direct impact on Guatemala's economy.

Banking executives agree that the economic situation in the country is uncertain; nonetheless, they need to keep a close eye on what is happening in the American financial market.

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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