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The Great Recession in South America, as it mainly consists of commodity exporters, was not directly affected by the financial turmoil, even if the bond markets of Brazil, Argentina, Colombia and Venezuela have been hit. [1] On the other hand, the continent experienced a tough agricultural crisis at the beginning of 2008. [2]
The IMF thinks global inflation will slow to 5.8% this year — marginally below its July forecast of 5.9% — and fall to 3.5% by the end of next year, which is slightly below the average during ...
Government officials have abused the IMF by using them as a way to save the economy to cover up scandals of corruption. For instance, in 2002 the Dominican Republic went through a Recession after the Bank, Baninter went bankrupt. President Mejia bailed out the bank despite the negligence of the Bank management resulting in the loss of $2.2 billion.
The global recession has caused a reduction in tourist revenue and foreign investment, significantly slowing growth rates. St. Lucia's currency is the Eastern Caribbean Dollar (EC$), a regional currency shared among members of the Eastern Caribbean Currency Union (ECCU).
Global equities markets began the week with a steep plunge, reacting to the possibility of a coming US recession that Goldman Sachs economists pegged at 25 percent.. On Monday morning, the Dow ...
Between 2007 and 2011, tourist visitors to be the British Virgin Islands declined by approximately 12.4%, largely due to the global recession which particularly affected North America, a key source of visitors for the Territory. [7] However, by November 2013 tourist numbers had begun to recover. [20]
The International Monetary Fund defines a global recession as "a decline in annual per‑capita real World GDP (purchasing power parity weighted), backed up by a decline or worsening for one or more of the seven other global macroeconomic indicators: Industrial production, trade, capital flows, oil consumption, unemployment rate, per‑capita investment, and per‑capita consumption".
Currently, Latin America and the Caribbean are dominated by Canadian companies falling from a 49% to 32% held control over the larger-company mineral exploration market after the global recession of 2008. [6] The Canadian share of the market is roughly US$59 million more than the amount domestic companies planned to spend in this region. [6]