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Panama - The
world economic crisis will have important
effects on the labour market in Latin
America, informed authorities of the
International Labor Organization (ILO) in
Panama. Carmen Moreno, regional deputy
director of ILO for Latin America told media
that there was the possibility of a 0.3
percent deceleration of the labor market.
Evaluation of the ILO for Latin America in
2009 considers a drop in prices of basic
goods and a lesser demand for exports of the
region.
Also, the problems affecting the economies
of developed nations will reduce the flow of
remittances to Latin America with a greater
effect in those nations on which the Gross
Domestic Product depends.
However, Moreno estimated that the region is
more prepared than in previous situations,
which has allowed some countries to
accumulate reserves and apply favorable
budget policies.
She said there is an efficient capacity of
reaction since all countries have strategies
on how to confront the crisis.
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