A comparison between the crisis in the United States in 1929 and the one occurring now in Greece clearly shows that the sooner the costs of an exit from the crisis are assumed, the less time will be spent suffering from the measures taken to overcome it.
EDITORIAL
Obviously some aspects of the current economic tragedy of Greece are different from those suffered by the United States during Twenties of the last century.
Economic recovery appears to have come close to a halt in the major industrialised economies, with falling household and business confidence affecting both world trade and employment, according to new analysis from the OECD.
Growth remains strong in most emerging economies, albeit at a more moderate pace.
Economic recovery appears to have come close to a halt in the major industrialised economies, with falling household and business confidence affecting both world trade and employment, according to new analysis from the OECD. Growth remains strong in most emerging economies, albeit at a more moderate pace.
The global recovery is off to a stronger start than anticipated earlier but is proceeding at different speeds in the various regions.
A Policy-Driven, Multispeed Recovery
Following the deepest global downturn in recent history, economic growth solidified and broadened to advanced economies in the second half of 2009. In 2010, world output is expected to rise by 4 percent.
The global recovery is off to a stronger start than anticipated earlier but is proceeding at different speeds in the various regions.
A Policy-Driven, Multispeed Recovery
Following the deepest global downturn in recent history, economic growth solidified and broadened to advanced economies in the second half of 2009. In 2010, world output is expected to rise by 4 percent.
One year after the fall of Lehman Brothers, SECMCA analyzes the international situation, and Central America's perspectives and current situation.
Production continues to fall, as evidenced by the Central American Monthly Economic Activity Index, confirming a process started on the last trimester of 2008. June's variation was -1.9% when compared to the same month of the previous year.
Due to the economic crisis, various sectors of the economy closed this March with lower sales than those in March 2008.
The data presented by the Superior Council of Private Enterprise (COSEP) reported a slowdown in sales during the first quarter when compared with the same period in 2008.
Elnuevodiario.com.ni website published: "[COSEP president José Adán Aguerri] said that up to and including March, the insurance sector decreased 4 percentage points in growth by registering a 9% increase, being that it was up 13% during the same period last year. He added that up to and including April, the hardware sector registered a deceleration of between 20 and 30% over the same period last year, while the decline was 8% for transport and 5% for telecommunications and consumer products."
Situation Report for March 2009 by the Executive Secretary of the Central American Monetary Council (SECMCA).
The Central American - Dominican Republic region could experience economic stagnation or a slight decline in 2009. According to what was published in the February report, econometric projections of regional economic growth already considered that the area of economic stagnation is at its bottom point.
Lower demand and prices for the primary products of export have caused the country’s sales revenue to fall by 29%.
Ervin Sánchez writes in Elnuevodiario.com.ni: "Information supplied by the Center of Export Procedures is at the same time verifyed in an analysis carried out by the economist Adolfo Acevedo, who is an advisor of the Civil Coordinator. The real fall of exports, according to the analysis on the issue, which was done by Acevedo, began in November 2008, indicating that to September exports were growing strongly in comparison with the same month of 2007."
To address the economic crisis that affects the region, the World Bank will contribute $3 billion this year.
Diariolasamericas.com publishes in its website: "The Bank will contribute ´$3 billion for Central America´ as part of the contingency aid to address the effects of the crisis in these countries that are so dependent on trade with the United States,´ said Cox."
Global Economic Slump Challenges Policies. World growth is projected to fall to ½ percent in 2009, its lowest rate since World War II.
Despite wide-ranging policy actions, financial strains remain acute, pulling down the real economy. A sustained economic recovery will not be possible until the financial sector's functionality is restored and credit markets are unclogged.
Global Economic Slump Challenges Policies. World growth is projected to fall to ½ percent in 2009, its lowest rate since World War II.
Despite wide-ranging policy actions, financial strains remain acute, pulling down the real economy. A sustained economic recovery will not be possible until the financial sector's functionality is restored and credit markets are unclogged.
The measures presented by the Government include the reduction of public spending, the promotion of food production and the development of
Invertia.com reports: "The president said that they will request $500 million from the Central American Bank for Economic Integration (BCIE) and the Inter-American Development Bank (IDB), in order to push infrastructure projects and promote production.
Business tips to get through the crisis and even take advantage of the opportunities that arise in complicated times.
Uruguay is a country with an economy that is similar to some central american nations, boasting businessmen with considerable experience in financial and economic crisis. A seminar organized by the Institute of Business Studies (IEEM) from the Montevideo University, provided interesting conclusions on the best way to get through this economic crisis.
The effects are already visible, there is a strong reduction in the credit for housing and vehicles, as well as a restriction of credit cards.
This was confirmed by representatives of the sector, after participating in presentation of the fourth report on the economic situation by the Nicaraguan Foundation for Economic and Social Development, Funides.
Outlook Report December 2008 from the Executive Secretariat of the Central American Monetary Policy.
The disruption of prices in the international market for commodities: petroleum, steel, copper, and basic food, and especially, the recent problems with the US financial system and other countries and regions in the world that are affecting employment and other economic variables, are two of the situations that have significant implications for the region.