Guatemala expects 73% reduction in lines of credit

According to projections for 2009 by Banguat, lines of credit from abroad could fall to $50 million.

Tuesday, January 27, 2009

Sigloxxi.com reports on its webpage: "The Central Bank indicates that in 2008 correspondent banks made $188.2 million (Q1,411.5 million) available to the national banking system, however this year it could be only $50.0 million (Q375.0 million), a reduction of 73.6%.

The reduction started from last year. According to data from Banguat, in 2007 the banking system had a line of credit of $446.7 million (Q3,350.3 million) available. However, due to the financial and economic crisis that is greatly affecting foreign institutions, the figure has been reduced to $188.3 million, or 57.9% less."

More on this topic

$53 million for Honduran small businesses

January 2009

Within 30 days the government will open lines of credit for small and medium businesses.

The Vice Minister of Small and Medium Businesses, Ana Munguia announced, according to Latribuna.hn, that "We know that small businesses have always had access to the resources, we have an order from the President of the Republic for these resources to be made available within 30 days."

El Salvador: $400 million for loans to productive sector

December 2008

The main condition from the IDB is that the BCR use the funds to create a short-term credit portfolio in the financial system for working capital and international trade.

The Central Bank indicated that the reserves will be available at participating financial institutions, who have responded positively to channeling the resources to production activities, including small businesses.

Salvadoran Government and IMF analyze line of credit

November 2008

The Government is talking of the possibility of getting an emergency line of credit for $1 billion, however the IMF is cautious and has not released the amount it is studying.

Yesterday, Alfred Schipke, the resident regional representative of the IMF, confirmed that they are jointly studying the feasibility of a preventive stand up, an emergency loan that will not necessarily be used immediately.

IMF opens short term lines of credit

October 2008

The International Monetary Fund (IMF) will direct the resources to those economies suffering the most at finding financing.

The IMF announced yesterday its decision to increase its efforts to support those countries affected by the crisis, and is considering advancing liquidity for short periods, but on the condition that proper administration be of said funds be carried out.

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