Latin America can not escape crisis

Once they were called “banana republics” in Olten. In the current crisis but were precisely the countries of South and Central America through long. Now the crisis leaves traces – which European banks are likely to be felt.
Even Latin America may be different from the global crisis is no longer decouple many countries there are heavily dependent on exports, the world’s dwindling demand suffer. Consequently, they fall in the price of commodities such as oil, copper, and soybeans.

In addition, the government revenue from these exports are often used for social programs to support the poor to secure. Now shrink the revenues – the pressure of the population to help increase. At the same time, private investment, as also in this region, access to credit becomes more difficult.

The International Monetary Fund (IMF) has already warned the economies in the region would grow much slower than in previous years. For 2009 the Fund expects a growth of around one percent. The rating agency Standard & Poor’s (S & P) has increased its growth forecast for 2009 this week from 2.1 to 0.7 percent. That would be Latin America as bad as 2002, when crises in countries such as Argentina, the shattered region.

The move is according to S & P main problems in Brazil and Mexico – which together almost two-thirds of the economic performance of the region. For Brazil, the rating agency expects a slight growth of 1.2 percent for Mexico even a decrease of 2 percent.

Thus, a year-long boom to end. Brazil benefited around until last fall of exports, but also by strong domestic demand, which now collapses, once again, the credit conditions have tightened. Turnover in retail trade are October to December compared to the previous month, respectively decreased.

This is also due to unemployment, which is growing faster than many experts had expected. In January, the rate climbed to 8.2 percent – from 6.8 percent in December. Recently moved to the aircraft manufacturer Embraer, the wrath of the government when he announced, 4000 points to want to emphasize – the equivalent of 20 percent of the workforce.

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