Panama "has ample liquidity"

Banks in Panama have enough liquidity and are properly positioned to face the international credit crisis, the head of supervising the sector said on Monday.

Tuesday, October 14, 2008

Olegario Barrelier, superintendent of Banks in Panama, said that liquidity in the banking sector in the country was close to 58% of deposits, with a manageable level of exposure to international markets that have been shaken by the US financial crisis.
"At this moment our banks are doing fine, they are healthy, they are liquid, they have double the equity that is required," said Barrelier.

More on this topic

Guatemalan banks ask for more liquidity

November 2008

The local banking system started to feel the effects of the international financial crisis with credit restrictions in place from international correspondent banks.

Some entities have already lost this option, while others that have managed to borrow money have found that the price has increased.

Guatemalan Government injects $275 million.

November 2008

The Monetary Board in charge of directing macroeconomic policies of the country opened a special account in US dollars and placed it at the disposal of the private banks to help them acquire liquidity.

Maria Antonieta Bonilla explained that the account would come into effect as of 31st Jan, 09 with the objective of giving liquidity to banks in the system that have had some difficulties.

Panamanian banking adjust credit conditions

October 2008

The rise in the cost of money, which was announced as an adverse consequence of the lack of liquidity on the global stage, is being felt in the country.

The rules of the game have changed. One month ago there was talk about the possible effects that Panama would feel from the financial crisis which started in the United States and expanded to Europe, Asia, and Latin America.

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.

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