• Tourism has taken a serious downturn due to drug violence.
• Predicted 3.3% contraction in growth this year.
• U.S. crisis wreaking havoc on remittance flows back home.
• Almost went bankrupt during the past 6 months.
• Devastating security problem making it one of the world’s most dangerous countries.
• Looking at a 12% growth contraction this year.
• Ukraine currency has fallen 35% against the dollar in last 6 months.
• Stock market has fallen 25% so far this year.
• Chavez has always tied the economy to oil – Falling prices = falling social spending.
• Human rights violations are skyrocketing.
• Political maneuvering has produced serious social fissures.
• Foreign investment declining rapidly for fear that the 2002 debt default days are back.
• Forecasts of a 14.9% drop in GDP this year.
• January saw violent protests and financial conditions are getting worse.
• Tourism way down – Not good when 20% of GDP is tourist generated.
• Unemployment forecasted at 12%.
• Economy tied to oil – not good right now.
• Witnessed foreign capital flight over past 6 months.
• Slowest economic growth in a decade.
• 46% of population afraid of unemployment.
• All but 1 of the country’s banks are state-controlled – enough said.
• Failure to reform the financial system will push this small country into disarray.
There’s got to be more, right?