BCIE approves $500 million for the region
The regional financial entity revealed that the money will be handed over to the central banks to ease liquidity problems.
Monday, November 17, 2008
Details of the emergency program will be presented next Wednesday, November 19; however, Nick Rischbieth said that the $500 million will be divided in two lines of credit: one for liquidity and one for emergency.
This is the amount that the Salvadoran Foundation for Social and Economic Development recommends getting in the contingency credit.
The BCIE has granted an additional $3 million to Desyfin's global credit line, meaning that the total amount it now has reaches $10 million.
The system of designation for the IDB loan of $500 million is still under discussion by the authorities of the Central Reserve Bank.
According to projections for 2009 by Banguat, lines of credit from abroad could fall to $50 million.
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