Displaying items by tag: financial crisis

Accept the crisis

The first step to overcome a crisis is acceptance. You must understand the reason that generated your financial problems. Being clear about how you got there will help you to have a starting point and, above all, avoid making the same mistake.

According to a blog published by the International Monetary Fund (IMF), representatives Francesca Caselli and Prachi Mishra say that the economic recovery has spurred a rapid acceleration in inflation this year in advanced and emerging market economies, driven by robust demand, tight supply and rapidly rising commodity prices.

The President of the Asociación Cafetalera de El Salvador (Acafesal), Omar Flores Hidalgo, informed that within the framework of the Día Nacional de la Caficultura, they presented a balance sheet detailing the financial crisis that is affecting the sector, where small and medium producers have a debt of approximately US$200 million.

Faced with a contraction in sales and loss of income, the first reaction of many entrepreneurs is to lower the prices of their products and services.