Unions are opposed to the legal reform which aims to extend the scope of the supervision of the Superintendent of Financial System over savings and loans cooperatives.
In the view of Julio Cesar Portillo, secretary of the board of the National Commission for credit unions in El Salvador and CEO of Co-Andes de R.L. ,"...
The reduction from 20% to 3% in the tax on stock profits was not enough to prevent trading on the secondary market in the first quarter of the year falling by 94%.
Noting the political system's inability to agree on fiscal issues, Standard & Poor's has downgraded, from BB to BB-, the rating for the country's long-term debt, giving it a negative outlook.
Costa Rica Long-Term Ratings Lowered To 'BB-' On Continued Fiscal Deterioration; Outlook Is Negative
25 Feb 2016
Source: Standardandpoors.com
OVERVIEW
The combination of growing spending pressures and lack of tax reform has weakened Costa Rica's public finances and raised its vulnerability to
On January 26, the Ministry of Finance will be auctioning in the local stock market $25 million in Treasury bills with maturities of between 316 and 346 days.
From a statement issued by the Stock Exchange of El Salvador:
Lowering the tax on transactions for non-domiciled investors from 20% to 3% had a positive effect on the performance of the stock market in 2015, which grew by 6% compared to 2014.
The forecast made by Rolando Duarte, president of the Stock Exchange of El Salvador (BVES), is that this type of investment will continue to grow, thanks to the incentive which was first implemented in 2015.
The interest rate rise in the US and the perceived risk of the Salvadoran economy have taken their toll on foreign debt bonds, whose yields have risen by about 2% in recent weeks.
This increase in yield of debt securities traded on the international market will be reflected in the forthcoming issues made by the government, which, according to economic analyst Mauricio Choussy, "...
A reduction from 20% to 3% has been made on withholding tax on income from investments in securities traded on the local stock market.
From a statement issued by the Financial Supervisory Authority:
Recently, the Legislature approved a decree amending art. 158 of the Tax Code in order to decrease from 20% to 3% withholding tax to foreign persons or entities charged on income from investments in securities traded on the Stock Exchange in the Republic of El Salvador.
An agreement has been announced which will allow Salvadoran and Panamanian investors to buy securities on the stock exchange of the other country without them being registered in both markets.
The stock exchange authorities announced that the agreement implies that each recognizes the other's jurisdiction, allowing a "... Salvadoran investor to order their brokerage house to purchase a share in the Panamanian system directly and deposit the money system in custody in Panama . "
The Development Bank of El Salvador will be issuing in the primary market $5 million in commercial papers with five months maturity.
From a statement issued by the Stock Exchange of El Salvador:
Bandesal through the brokerage house Valores Banagrícola, will be selling in the primary market tranche "4" of its securities issuance, according to the following characteristics
On June 5th the Development Bank of El Salvador will auction on the stock exchange $10 million in commercial papers with a maturity of one year.
From a statement issued by the Stock Exchange of El Salvador (BVES):
Issue Date: June 5, 2015 9:15:00 am
Institution: DEVELOPMENT BANK EL SALVADOR
Description:
Bandesal through the brokerage house Valores Banagrícola, will sell in the primary market tranche "3" of its securities issuance, according to the following characteristics
In the first three months of the year $977 million was traded on the stock market, $300 million more than in the same period in 2014 .
The primary market reported $99.6 million traded during the first three months of 2015, ie, $14 million less than the amounts recorded in 2014.Meanwhile, the secondary market recorded transactions of $136 million, which is $88 million more than reported in the same period of 2014 .
Small investors have bought $15 million in shares ranging from $1,000 to $20,000, from a trust that will finance a wind project in Uruguay. Another $62 million will be offered to institutional investors.
EDITORIAL
The offer received in the Uruguayan Securities Exchange from small investors reached $100 million, a clear sign of the high interest in the prospective investment which has a mitigated risk as it is a project by a strong state run enterprise, with a return almost assured, estimated at about 11.5% a year, in the 20 years which is the term of the share certificate.
An adequate legal framework is needed for the healthy and steady development of institutions engaged in microfinance.
The Association for Research and Social Studies (ASIES) has published a study on the essential institutional strengthening of microfinance in Guatemala, with its own data and references it reports from the Secretariat for Economic Integration (SIECA) on "The Importance of the Micro Financial Sector in Central America ".
The government has placed on the international market an issue due 2027 at a coupon of 6.375%, with offers that exceeded the amount placed by 5.8 times.
From a statement issued by from Presidency of El Salvador:
(Thursday 11 September) the Republic of El Salvador made a successful placement of sovereign bonds (Eurobonds) in the international market to the tune of $800 million, covered by Legislative Decree No.