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#319075 - 01/17/09 12:48 PM IMF sees Central America avoiding slump
collyk Offline
MEXICO CITY, Jan 16 (Reuters) - The International Monetary Fund on Friday said it expects Central America to avoid a recession in 2009 despite strong U.S. ties.

Alfred Schipke, IMF representative for Central America and mission chief for El Salvador, told Reuters he saw public spending and inter-regional trade helping Central America compensate for failing remittances from the United States.

About half of the region's trade is with the United States, which is facing a prolonged recession, but the IMF applauded careful financial management in the region.

"Growth will slow but we don't see a recession," Schipke said.

Central America comprises Guatemala, Belize, El Salvador, Honduras, Nicaragua, Costa Rica and Panama. more here
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#319350 - 01/19/09 04:23 PM Re: IMF sees Central America avoiding slump [Re: collyk]
Tim Callanan Offline
Colly, that is such positive news. I had a feeling their report would be relatively good!
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