Guatemalan Banks Renegotiate 70% of Foreign Credits

70% of the Foreign credit lines in the Guatemalan Banking System were renegotiated under new conditions.

Friday, February 20, 2009

In an article published in sigloxxi.com, Édgar Barquín, the Superintendent of Banks, explained that banks "have been able to defer or restructure them [the credit lines] to maintain the financing used by local banks in productive sector loans" and that the country "has been fortunate in the way correspondent banks have responded."

More on this topic

El Salvador Loses Access to IMF funds

April 2012

The IMF has temporarily suspended the availability of emergency funds for El Salvador because it has not met agreed targets, having exceeded government spending.

The IMF reported that the Salvadoran government may not use a precautionary loan (SBA) of $750 million, said Carlos Acevedo, president of Banco Central de Reserva (BCR).

$500 Million Loan for Guatemalan Banks Analyzed

March 2009

In order to support liquidity, the government is analyzing whether to accept a $500 million line of credit from the IDB.

The Superintendent of Guatemalan Banks, Edgar Barquín, said that the purpose of this instrument would be to compensate for the likely loss of foreign credit lines.

Guatemala: Companies Acquire More Loans Abroad

July 2010

In the first half of the year, international banks placed 15% more loans in Guatemala than in the same period of 2009.

In total, Guatemalan companies negotiated $569.7 million in loans between January 1st and June 17, motivated by low international interest rates.

“Edgar Barquín, Banking Superintendence, explained that foreign banks, mostly from the U.S.

Guatemalan Banks Consolidate

October 2010

In the last ten years the number of banks operating in the country fell by 52.6%.

According to information from the Superintendency of Banks (SIB), in 1999 there were 38 banks operating in the country, dropping to 18 in 2010. In contrast, sector earnings rose 1736.7%.

Bankers and financial analysts agree today that the financial system is stronger.

 close (x)

Receive more news about Banking

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


Costa Rica Coffee Farm and Development Property

Sustainable 70 Acre Coffee Farm, San Ramon, Costa Rica Coffee Estate, development property with 20 titled lots, ready to develop with roads, water and power. Great Location, close to everything.
Ideal area for living or developing an ecologically...

Stock Indexes

(Jan 13)
Dow Jones
-0.03%
S&P 500
0.18%
Nasdaq
0.48%

Commodities

(Jan 16)
Brent Crude Oil
56.170
Coffee "C"
151.70
Gold
1,203
Silver
16.92