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. This is due to the fact that international banks have frozen their lines of credit.

Source: laprensagrafica.com

More on this topic

$500 million for Salvadoran financial sector

November 2008

In an unprecedented move since the dollarization of the country's economy, the BCR will inject ready money into the local financial sector.

The IDB approved an operation for the Central Reserve Bank to buy a credit portfolio totalling $500 million from banks giving them more liquidity to support the production sector.

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.

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.

Direct impact of US crisis in Guatemala ruled out

September 2008

Banking monetary and authorities in the country have ruled out a direct impact on Guatemala's economy.

Banking executives agree that the economic situation in the country is uncertain; nonetheless, they need to keep a close eye on what is happening in the American financial market.