A Boost from Abroad

CENTRAL AMERICA - Report 27 Jan 2015 by Francisco de Paula Gutiérrez and Felix Delgado
Executive Summary The global economy will boost Central American economies this year.This is, first, because of the expected behavior of the U.S. economy, the most important export market for the region, and the main source of private remittances for El Salvador, Guatemala and Honduras. The second reason is the sharp decline in oil prices.Except for Guatemala, which produces some oil, the region depends 100% on imported oil. The fall in average oil prices in 2015, estimated at 41% by the IMF in its recent WEO update, will have a positive effect on the current account deficit, and hence the ...

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