The Crash of 1929, the Current Crisis and the Macro-Economic Adjustment in the Region

The current crisis is still unveiling and its broader regional reach and consequences are still unknown. What is known is that the impact is undeniable.

Friday, November 7, 2008

Even though the region has not experienced an immediate effect, its important to wonder how the macroeconomic adjustment may happen in our countries.
First of all, in the last years the region has experienced an improvement in its economic fundamentals, even though the external situation has dampened it, specially when compared to the rest of Latin America. This external effects are outside the reach of internal economic policy.

Indeed, if we make the theoretical abstraction that the economic fundamentals are visible in the current account, the balance of payments and the fiscal situation...



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Guatemala As seen by the IMF - March 2018

March 2018

Supported by greater growth in the US economy, better monetary conditions and a moderate boost in government spending, growth should accelerate gradually until it reaches a rate of 3.6% in 2019.

The mission of the International Monetary Fund (IMF) recognizes the macroeconomic stability that has been achieved, but warns of a need to approve a fiscal reform that allows the tax burden to be increased to at least 15% of GDP, and allocate that additional income to public investment, especially in social development, particularly pre-primary education, preventive health care and greater pension coverage.

Costa Rica Through Eyes of IMF in November 2014

November 2014

Although the product has remained steady in its level of potential, the country's economic prospects are not as promising due to the weakening of economic fundamentals.

From a statement issued by the International Monetary Fund (IMF):

This note summarizes preliminary findings and recommendations of the IMF staff mission that visited Costa Rica during October 28–November 11 to conduct the 2014 Article IV consultation.

IMF: Nicaragua has Macroeconomic Stability

December 2013

The agency emphasized prudent management of the macroeconomic policy and stressed the need to focus efforts on reducing fiscal and external vulnerabilities.

From a communiqué by the International Monetary Fund:

"An mission from the International Monetary Fund (IMF) led by Przemek Gajdeczka visited Managua from 17th to 26th of September 2013 to conduct discussions in the context of Article IV.

Fitch: Severe Global Recession Expected in 2009

November 2008

Fitch Ratings predicts that the world's major advanced economies will next year experience the steepest decline in GDP since World War II.

In aggregate GDP growth in these countries is expected to be (minus) -0.8% in 2009, compared to an estimated 1.1% for 2008. Tighter credit conditions, consumer retrenchment and falling corporate investment are expected to combine to deliver an unusually synchronised downturn across the advanced economies.

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