It’s Not Money That’s Missing
As in Panama, there are hundreds of millions of untapped dollars in loans that were obtained to prevent illiquidity in the Costa Rican banking system.
Friday, June 12, 2009
The government of Costa Rica rejected the loan for $500 million that the Inter-American Development Bank (IADB) had granted at the end of 2008 and for which the approval by the Legislative Assembly had already been obtained.
The approved loan by the IDB must be submitted to the National Bank of Panama and it will be used to restore liquidity.
The funds will be used to deal with the possible lack of liquidity next year due to the international financial crisis.
ABANSA believes that the cost of accessing the $500 million made available with IDB funds is too high.
Guatemala's government is negotiating two programs for a total of US$600 million with the Inter-American Development Bank (IADB), President Álvaro Colom said.
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