Wednesday 07 January 2009, San José, Costa
Rica
Increase of Value of
Nicaraguan Export
Highlighted
Guatemala Readies for
2009 Crisis
Colombia's
Fedecafe Demands US Caricaturist
Venezuela Expels Israeli
Ambassador Over Gaza
Conflict
Israel Mulling Expulsion
of Venezuelan Ambassador
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Guatemala Readies for
2009 Crisis
Guatemala - The
Guatemalan government is
preparing a contingency
plan to face the world
economic and financial
crisis that will affect
the country during the
first half of 2009.
According to the Economy
Minister Romulo
Caballeros the project
will be based on four
main focal points: job
generation, social
protection, control of
inflation and public and
private investment.
President Alvaro Colom
will announce the plan
before January 14 in
celebration of his first
year in the post, said
Caballeros.
Guatemala has already
suffered global
recession that in 2008
prompted a marked
increase of cost of
living and loss of
thousands of jobs.
Inflation increased to
8.4 in January and 14.3
in July, much more than
the authorities'
calculations, because of
rising fuel and food
prices in the first half
of 2008.
In addition the
financial crisis that
has started in United
States and then expanded
to the rest of the world
has caused contraction
of Guatemalan exports
and difficulties for
small and middle
producers because
credits have become more
expensive.
The Guatemalan Bank has
estimated growth of the
Gross Domestic product
(GDP) between 3 and 3.5
percent by 2009 but the
UN Economic Commission
for Latin America and
the Caribbean (ECLAC)
has planned hardly 1.8
percent.
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