españolGuatemalan Economy Grows at the Beginning of 2021Thursday, March 4, 2021 During January of this year, the Monthly Index of Economic Activity reported a 3.2% increase compared to the level reported in the same month of 2020. The Guatemalan economy continues to show positive signs, since after facing a crisis during 2020 due to the covid-19 outbreak, economic activity has recovered quickly in recent months. Panamanian GDP Decreased 18% in 2020Wednesday, March 3, 2021 The drop in production is explained by the performance of activities that were affected by the emergence of the covid-19 pandemic in March 2020, a situation that lasted for the rest of the year. The Gross Domestic Product (GDP) valued at constant 2007 prices registered, according to calculations of the National Institute of Statistics and Census (INEC), an amount of $35,308.7 million, which corresponded to a decrease of $7,724.1 million, according to an official report. Honduran Economic Activity Falls 9% in 2020Wednesday, February 17, 2021 At the end of last year, the Monthly Index of Economic Activity reported a -8.5% year-on-year variation, a drop that is explained by the negative effects generated by the outbreak of covid-19 and tropical storms Iota and Eta. The national production of goods and services in terms of volume, showed a contraction in the accumulated variation rate of 8.5% (increase of 3.1% in 2019), mainly explained by the negative effects of the Covid-19 pandemic on economic activity and demand, added to the impact of tropical storms Eta and Iota on agricultural crops, some industries and productive infrastructure, mainly in the northern part of the country, says an official report. Tourism in Nicaragua: Crisis and OutlookWednesday, March 3, 2021 After the political crisis the country went through in 2018 and the health crisis it faced in 2020, businessmen maintain hopes that tourism activities will recover in 2021 and in the following years return to the path of growth. The Nicaraguan tourism sector has been rained on over the past three years. In April 2018, companies engaged in these activities began to experience a crisis, as a political and social crisis occurred in the country, which ended up affecting the productive activity. Costa Rica: Economic Activity Falls 5% in 2020Monday, February 15, 2021 In December 2020, the Monthly Index of Economic Activity reported a year-on-year variation of -5.1%, a drop that is explained by the restrictions imposed due to the covid-19 outbreak. Since the calculation of the Monthly Index of Economic Activity (IMAE) series began in 1991, the average annual gross production, measured by the IMAE, has only fallen on two occasions, specifically in 2009 and 2020. Both cases coincide with world crises, but the impact has been much more severe for Costa Rica in the case of 2020, according to an official report. Logistics Mismatch Pushing Costs UpwardFriday, March 5, 2021 Due to the imbalance in world trade flows, shipping lines have changed their routes and prefer to move empty containers to Asia, a situation that generates shortages and causes increases in freight rates and raw material prices. In this scenario of new commercial reality, the operating costs of maritime freight have been impacted, since due to the restrictions imposed in several countries around the world, containers have been stranded. Costa Rica: Unemployment Rate Falls to 19%Friday, March 5, 2021 For the moving quarter from November 2020 to January 2021, the unemployment rate in the country decreased to 19%, which is slightly lower than the 20% reported for the period from October to December last year. For the quarters from the first quarter (January to March 2020) to the last available quarter, the country has experienced a situation in the labor market that has generated significant impacts in the main indicators, as a result of the measures that generate restriction to the labor market and the labor situation caused by the Covid-19 health emergency, informed the National Institute of Statistics and Census (INEC). Covid-19: Survey of Damage in Costa RicaThursday, February 25, 2021 Given the economic crisis generated by the covid-19 outbreak, nine out of ten companies operating locally reduced their revenues and one out of three made temporary closures. Between May and August 2020, a COVID-19 section was included in the Directory of Businesses and Establishments (DEE) as part of the update, in order for businesses to indicate what the main effects of the pandemic were. It was confirmed that 94% were affected by Covid-19, where 91% indicated as main consequence the reduction of income, informed the National Institute of Statistics and Census (INEC). Guatemala: Formal Employment Decreased 3% in 2020Monday, March 1, 2021 Between December 2019 and the same month of 2020, the number of employees contributing to Social Security decreased 3%, a fall that is explained by the economic crisis generated by the outbreak of covid-19. Official data show that Sacatepéquez, Quetzaltenango and Guatemala were the most affected departments, as the drop in the number of contributors in these regions amounted to 9%, 7% and 4.5%, respectively. Panama: $350 Million for Digital TransformationThursday, March 4, 2021 The Development Bank of Latin America approved a line of credit that the government will use to finance the Program to Support the Digital Transformation and Inclusion Strategy. The Program is aimed at recognizing actions in the development of the framework of public policies and investments for the closing of the digital gap and the digitalization of the public and private sectors, specifically with the production and implementation of standards, plans, internal agreements and investments, informed the Development Bank of Latin America (CAF). Legal Certainty: What are Investors asking for?Wednesday, March 3, 2021 A few weeks before the new magistrates of the Constitutional Court take office in Guatemala, the business sector is asking that the new members of the highest court advocate for a real rule of law and provide legal certainty to investments. In recent years, Guatemala's Constitutional Court (CC) has gained prominence in the country's economic sphere, as its rulings have affected different investments that were already operating locally. Costa Rica: IMF Endorses $1.778 Billion LoanTuesday, March 2, 2021 The financial resources that the IMF will lend to the Costa Rican government will be used to mitigate the fiscal crisis, strengthen monetary and financial stability, and boost economic recovery in the context of the pandemic crisis. On March 1, the Executive Board of the International Monetary Fund (IMF) approved Costa Rica's request for an IMF Extended Fund Facility (EFF). Vehicles: How Much Did Sales Fall in 2020?Tuesday, March 2, 2021 In El Salvador during last year, sales of new vehicles decreased 24%, a drop that can be explained by the closing of borders, the technical stoppage of plants worldwide and home quarantines decreed due to the outbreak of covid-19. According to businessmen in the sector, in the context of the economic and sanitary crisis, sales of sedan-type vehicles were the most affected. This decline was mitigated by the performance of commercial vehicle sales. Debt Market: Plans in Costa RicaMonday, March 1, 2021 In addition to the $1,750 million that the government is seeking to obtain through the loan it is negotiating with the IMF, during the four years between 2022 and 2025 the country plans to place $4,000 million in foreign debt bonds. Currently, the Assembly is discussing the loan file requested to the International Monetary Fund (IMF), which amounts to $1,750 million that will be used to mitigate the fiscal impact caused by the economic crisis resulting from the outbreak of covid-19. Panama: NO to Mandatory Rest Days BillThursday, February 18, 2021 The business sector opposes the bill that intends to stimulate the economy and local tourism, through the establishment of mandatory rest days and salary surcharges on the days of national events. This is Bill 487, which is called "Adopting a temporary regime of economic, cultural and national tourism stimulus, through the establishment of mandatory rest days and salary surcharges on national event days", which was presented to the Panamanian Assembly on September 28, 2020. |
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Tuesday, March 9, 2021 - last update: 5:16 pm
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