Panama Banking system with $14 billion in liquidity

The Panama Banking system has a liquidity of $14 billion and $115 million is affected by the credit crisis.

Friday, October 24, 2008

The Panama Superintendent of Banks, Olegario Barrelier, declared to the National Assembly that the $115 million affected by the crisis represent "a very low proportion" when compared to the $51 billion in assets in the national banking system or the $75 billion in the international banking center.

According to information from the official, for there to be a big impact from the financial crisis, they would have to use up the $14 billion in liquidity and that would be only if the banks cannot get funds abroad.

Additionally, the official said that he knows that the Ministry of Economy and Finance has a line of emergency credit with the IMF.

More on this topic

BCIE approves $500 million for the region

November 2008

The regional financial entity revealed that the money will be handed over to the central banks to ease liquidity problems.

Details of the emergency program will be presented next Wednesday, November 19; however, Nick Rischbieth said that the $500 million will be divided in two lines of credit: one for liquidity and one for emergency.

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.

Tight Credit May Result In Massive Layoffs

October 2008

The business sector is warning that the Costa Rica could enter a crisis of massive layoffs if they cannot finance their activities.

The warning is based on the scarcity of credit both from the public and private banks, which is causing many companies not to have sufficient financial resources to continue operations or expand.

What do to when there is no credit

October 2008

With banks barely lending and interest rates up, each company should review their available financing options.

Most small and medium company are not able to use existing instruments which are out of their reach and can mainly be used by investment bankers and financial consultants.

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