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.

The plan is addition to the request made by the leaders of the countries that make up the Central American Integration System (SICA) which request $200 million for each country.

More on this topic

El Salvador needs $1 billion to deal with the crisis

November 2008

This is the amount that the Salvadoran Foundation for Social and Economic Development recommends getting in the contingency credit.

According to a report published yesterday by the foundation "we must urge the Central Reserve (BCR) to negotiate a contingency fund of $1 billion from the IMF, making use of the new line of credit that the Bank has opened.

BCIE Credit Line Increased for Costa Rican Financial Company

July 2013

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.

With this money Desyfin will finance "programs to support micro, small and medium enterprises, financial intermediation programs for social housing, the housing and urban improvement program, and factoring products for suppliers," explains Nacion.com.

Designation of $500 million in El Salvador still undefined.

December 2008

The system of designation for the IDB loan of $500 million is still under discussion by the authorities of the Central Reserve Bank.

The president of the institution, Luz Maria de Portillo, said that the Board of Directors is still dealing with the matter.

Meanwhile, the productive sectors have expressed their expectation that the funds will be channeled as soon as possible since the funds will help to inject capital into the local economy and to reinvigorate it.

Guatemala expects 73% reduction in lines of credit

January 2009

According to projections for 2009 by Banguat, lines of credit from abroad could fall to $50 million.

Sigloxxi.com reports on its webpage: "The Central Bank indicates that in 2008 correspondent banks made $188.2 million (Q1,411.5 million) available to the national banking system, however this year it could be only $50.0 million (Q375.0 million), a reduction of 73.6%.

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