Salvadoran industrial companies present plan for crisis

The plan proposes the creation of a development bank that would offer direct lines of credit to help drive growth in the sector.

Wednesday, December 17, 2008

The Salvadoran Association of Industrial Companies (ASI) presented the 12-measure proposal that is urgently needed to deal with the crisis.

Napoleon Guerrero, president of ASI, explained that the creation of the financial institution is needed to reform the law that regulates the Mortgage Bank and the Bank for Agricultural Development (BFA) in order to capitalize them and expand financial coverage for the industry.

More on this topic

Advantages of Formality in the search for Credit

February 2016

83% of companies operating in a legal framework and who were surveyed by the Superior Council of Private Enterprise, obtained credit when they requested it to the financial system.

From a statement issued by the Superior Council of Private Enterprise in Nicaragua:

The Superior Council of Private Enterprise (COSEP), presents the Sustainable Business Survey Nicaragua 2015.

Credit Supply Stagnant in El Salvador

June 2011

Since the fourth quarter of 2008, credit extended by banks has been declining consistently.

An analysis published by the Salvadoran Foundation for Economic and Social Development reads:

“This decline has various interpretations, from suggestions that it is the result of reduced demand due to the lack of investment opportunities, to the internationalized banking system’s lack of identification with the needs of local businesses. Regarding the first scenario, this is a very limited conclusion and the second case offers an interpretation that doesn’t have an economic foundation.

Financial crisis starting to affect Nicaraguan Banking

December 2008

The effects are already visible, there is a strong reduction in the credit for housing and vehicles, as well as a restriction of credit cards.

This was confirmed by representatives of the sector, after participating in presentation of the fourth report on the economic situation by the Nicaraguan Foundation for Economic and Social Development, Funides.

Warning about credit restriction in El Salvador

September 2008

The export and industrial sector in the country has indicated that market conditions have worsened.

"We are now feeling a reduction in credit access, with the consolidation of the banks there is now a restrictive policy, and the international financial crisis is causing more credit to be closed due to the demand for capital in other markets," Jorge Arriaza, executive director of the Salvadoran Industrial Associacion (ASI), manifested.

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