El Salvador needs $1 billion to deal with the crisis

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

Wednesday, November 5, 2008

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.

The country is currently facing two types of risk, the director the department of economic studies at the foundation said, "it is probable that there will be more drying up of international liquidity and an increase in citizens' doubts about the state in the face of this global economic situation." In this context, even though the country's macro-economic situation is stable, "its is better to prevent and act quickly," because ...

More on this topic

The Credit Situation in El Salvador

February 2009

An analysis of the changes in the dynamics of granting credit, in an interview with the Superintendent of the Salvadorian Financial System.

Luis Armando Montenegro, Superintendent of the Financial System, in an interview published in La Prensa Gráfica, responds to questions about the liquidity of the Salvadorian financial system, the contraction of external credit to the local banking system, changes in the granting of loans, and interest rates, among other issues.

$500 million for Salvadoran financial sector

November 2008

In an unprecedented move since the dollarization of the country's economy, the BCR will inject ready money into the local financial sector.

The IDB approved an operation for the Central Reserve Bank to buy a credit portfolio totalling $500 million from banks giving them more liquidity to support the production sector.

Panama Banking system with $14 billion in liquidity

October 2008

The Panama Banking system has a liquidity of $14 billion and $115 million is affected by the credit crisis.

The Panama Superintendent of Banks, Olegario Barrelier, declared to the National Assembly that the $115 million affected by the crisis represent "a very low proportion" when compared to the $51 billion in assets in the national banking system or the $75 billion in the international banking center.

Financial crisis starting to affect Nicaraguan Banking

December 2008

The effects are already visible, there is a strong reduction in the credit for housing and vehicles, as well as a restriction of credit cards.

This was confirmed by representatives of the sector, after participating in presentation of the fourth report on the economic situation by the Nicaraguan Foundation for Economic and Social Development, Funides.

 close (x)

Receive more news about Capital Markets

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Partner needed for financing/construction in Punta Leona, CR

I have six building lots in the Punta Leona Resort ready for construction. I am looking for a partner to provide financing and or construction.
Wanted partner for financing and/ or construction in the...

Stock Indexes

(Mar 29)
Dow Jones
-0.20%
S&P 500
0.11%
Nasdaq
0.38%

Commodities

(Mar 29)
Brent Crude Oil
52.480
Coffee "C"
141.70
Gold
1,253
Silver
18.19