Honduran Central Bank injects $275 million into the market
In a strange move the Central Bank decided to use $273 million of its international reserves to inject resources into the economy.
Thursday, December 4, 2008
The measure was announced by the head of the Bank, Edwin Araque, and is equivalent to more than $5 billion that will enter the economy via the national banking system.
Indicators show a loss of dynamism in the Costa Rican economy, which fell from a year on year growth of 7.2% in February, to 2.39% in October.
The funds will be used to deal with the possible lack of liquidity next year due to the international financial crisis.
The banking system of Honduras registered in January a liquidity of $952 million, $435 million more than that of July 2008.
Between January and July 2009, the liquidity of Honduran Banks grew 242%, from $1.05 billion to $2.45 billion.
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