21.8% Increase in Remittances to HondurasFriday, November 15, 2013 The human tragedy of Honduran migration is partly offset by an increased flow of money being sent home by those working abroad. Between January and October remittances totaled $2,9 billion, $520 million more than in the same period in 2012 when they reached $2.38 billion. Remittances to El Salvador Up 7%Thursday, June 26, 2014 Family remittances, which amounted to $1,744 million in the first five months of the year, represent 16.4% of GDP. The recovery of the U.S. economy is one of the reasons behind the sustained increase in the flow of remittances from Salvadorans living abroad. Crime and Violence: A Staggering Toll on Central American DevelopmentThursday, April 7, 2011 Growing crime and violence in Central America not only have an immediate human and social toll, they also pose a tremendous threat to development potential in the region. Today, it is estimated that these sources of instability may decrease regional Gross Domestic Product (GDP) by 8 percent, once health, institutional, private security, and material expenses are accounted for. The Central Bank of Costa Rica’s OptimismThursday, July 21, 2011 The BCCR raised its forecast for economic growth this year from 4.3% to 4.5%, while Costa Rica ECLAC estimates for growth of just 3.2%. Referring to this issue, the Department of Analysis and Investment Strategy, Aldesa, described the Central Bank of Costa Rica as "very optimistic". Monetary Sovereignty?Friday, April 9, 2010 The recent increase in the value of the Costa Rican colon versus the dollar is worrisome, not only because there are no clear reasons to explain it, but also because it would be hard to contain it without causing greater problems. In the past weeks, and without apparent reason, the price of the U.S. dollar in Costa Rica dropped considerably. Costa Rica's Fiscal Deficit Will Be 6% of GDP in 2014Monday, August 12, 2013 The country ranks third in Latin America in terms of the difference between income and expenditure in relation to GDP. In 2012, government revenues totaled 14.4% of GDP while expenditures were 18.8%. Dark Economic OutlookTuesday, June 9, 2020 The World Bank projects that the Central American economy will contract by 3.6% this year, due to restrictions on movement, a decline in remittances and tourism, and a drop in agricultural prices. The sudden and widespread impact of the coronavirus pandemic and the measures taken to contain it have caused a drastic contraction in the global economy, which, according to World Bank forecasts, will shrink by 5.2% this year, the bank reported on June 8. Economy and Outlook for 2021Wednesday, March 31, 2021 The World Bank predicts that by the end of this year Panama and the Dominican Republic will be the economies of the region that will grow the most, and the countries that will report the lowest increases in their production will be Costa Rica and Nicaragua. After the region's economies were considerably affected in 2020 by the sanitary crisis generated by the Covid-19 outbreak, the outlook of international organizations for 2021 is encouraging. Economic Freedom Index 2010Friday, January 22, 2010 In Central America, El Salvador leads (32 in the world), followed by Costa Rica (54), Panama (60), Guatemala (83), Nicaragua (98) and Honduras (99). El Salvador and Guatemala climbed positions in the index when compared to 2009, while Costa Rica, Nicaragua, Panama and Honduras fell lower. Kellogg's Closes Guatemalan PlantMonday, August 3, 2009 The company announced the closure of its Guatemalan production plant in November. The facility will be used in the distribution chain, for the national market, of products imported from Mexico. Central American Ministers Meet in GuatemalaWednesday, February 17, 2010 In the meeting, officials will discuss the negotiation process with the European Union and the inclusion of Panama in it. Economy and Trade ministers are taking part in the event. $1.3 billion from BCIE for the regionTuesday, February 3, 2009 The Bank said that it will not stop injecting capital, especially capital that is used for micro, small and medium companies. Roberto Serrano, vice president of the Central American Bank for Economic Integration (BCIE), said in an article published on LA PRENSA GRAFICA.com: “Although the international economic environment is tough and funds are not flow as much as before, we have the ability to continue capturing money as well as to continue injecting resources toward the micro, small and medium companies sector." Micro, Small and Medium businesses drive employment in Central AmericaThursday, November 6, 2008 The labor panorama in CA indicates that the main generator of employment are the micro businesses that carry out non-agricultural activities. Based on reports from Costa Rican analyst, Juan Diego Trejos, almost 50% of employment is concentrated in "low production, non-agricultural activities," that is, self-owned businesses, companies with less that 10 employees; in most cases these are informal companies. Regional plan prepared to deal with crisisWednesday, November 26, 2008 Ministers of the Economy and Foreign Trade from Central America prepared a plan to jointly deal with the impact of the economic recession that will occur in 2009 in the region. The adopted measures will be used to jointly mitigate the negative effects. Key meeting of SICA concerning the crisisThursday, December 4, 2008 Tomorrow, leaders from the region will analyze a packet of recommendations on how to deal with the crisis. The heads of governments will analyze the plan that they requested from the specialized technical institutions of SICA to measure the impact that the global financial crisis could have on the region. They hope that the set of recommendations will allow the various governments to adopt adequate measures to reduce the impact. |
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