Economic Crisis in Mexico

When this economic recession started in the United States, few people worried about what could happen in other countries, fewer people though what could happen in Mexico with this crisis. When there is a problem about economics in the US, it is impossible to ignore that it will affect also our country.

When president Calderon said at the beginning of 2008 that Mexico would not feel the effect of this crisis, I almost laugh. How a country like ours that exports almost a 80% of it products to the United States (the country that started this crisis) will not even "feel" the big economic recession.

Today I found a note in the newspaper La Jornada, that Mexico will be the last country of Latin America that will go out from the crisis, and also that was the most affected during 2009 according to BID (Banco Interamericano de Desarrollo).

This organism determined Mexican economy will need at least one more year than other Latin America nations to recover the growing and GDP (Gross Domestic Product) levels. This is obviously because our economy depends a lot on the United States, the same thing happen with most of Central America countries like Panama and Costa Rica.

It has been tough situation for all the world, is unbelievable that there was people that said "nothing will happen here in Mexico, this is a 'gringos' situation". We are now watching the results, we just need to keep handling the best we can our capital, do not ask for loans if we know we don't will be able to pay them. The nightmare will over in a year, we need to keep holding it.