The Lehman effect on Guatemala

Experts predict that the American financial crisis will be felt through fewer credit flows, foreign investment, exports and remittances.

Wednesday, September 17, 2008

The National financial system is not showing signs of infection. Jose Angel Lopez, president of the Banking Association of Guatemala (ABG), indicated that the banks have their investments in the Central Bank, in government bonds, credits and other assets, hence their exposure to the American banks is minimum.
With regards to international reserves, 90% of it is invested in US Treasury Bonds, and there are no investments in private banks such as Lehman, Suarez said.



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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.

Some effects of the financial crisis in Guatemala

September 2008

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

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.

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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