One region that will feel the force of a deep recession in the US is central America. However, recent financial reform could help soften the blow to an extent. Two of the region’s finance ministers tell Euromoney about their hopes and fears.
Participants: Juan Alberto Fuentes, finance minister, Guatemala; Guillermo Handal, finance minister, El Salvador
How has the global financial and economic crisis affected your country? JAF: All the countries in the region are vulnerable to a general recession, including Guatemala; although certain specific features may include us among countries comparatively less afflicted. Our financial system, for instance, has a low degree of dollarization, little exposed to worldwide unrest, and solid international reserves.
Nevertheless, recent figures do show some cause for alarm.
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