On April 12, Panama's state-owned electric company began the marketing stage for the potential issuance of international bonds, which would be at least $500 million.
"Once the issuer's international risk ratings have been obtained and after several months of arduous preparation, we are ready to market among the most important investors in the United States, Europe and Latin America, our company's first long-term bond issue," explained Gilberto Ferrari, general manager of Empresa de Transmisión Eléctrica, S.A. (ETESA).
The Effective Rate in Dollars increased from 2.63% to 2.88%, while the Basic Passive Rate also increased, in this case from 6.10% to 6.20%.
The Central Bank of Costa Rica published on Wednesday afternoon April 10 that after a week of decline, the Basic Passive Rate registered a positive variation and will remain at 6.20% until next April 17. [GRAFICA caption="Click to interact with graphic"]
The Effective Rate in Dollars decreased from 2.71% to 2.63%, while the Basic Passive Rate decreased from 6.20% to 6.10%.
The Central Bank of Costa Rica published on Wednesday afternoon April 3 that after the 0.05% rise a week ago, the Basic Passive Rate registered a drop of 0.10% and will remain at 6.10% until next April 10. [GRAFICA caption="Click to interact with the graphic"]
Since the political and economic crisis began in Nicaragua, credit placement has fallen, while delinquency and loan restructuring have increased.
Data from the Superintendence of Banks and Other Financial Institutions (Siboif) indicate that between April 2018 and February 2019, a period during which the political crisis in the country has deepened, the fall in the net credit portfolio was 16%.
The entities of the International Banking Center of Panama generated during last year profits of $1.582 million, 4% more than reported in 2017.
The Superintendence of Banks of Panama (SBP) specify that during the last two years the profits of the 84 banks that operate in the International Banking Center (IBC) of Panama, grew by $70 million, going from $1,782 million in 2017 to $1,852 million in 2018.
The Effective Rate in Dollars increased from 2.72% to 2.77%, while the Basic Passive Rate decreased from 6.20% to 6.15%.
The Central Bank of Costa Rica published the afternoon of Wednesday March 20 that after a week of rising, the Basic Passive Rate registered a negative variation and will remain at 6.15% until next March 27. [GRAFICA caption="Click to interact with graphic"]
Up to November 2018, the credit portfolio of banks in the national system totaled $54.626 million, 5% more than in the same month in 2017, and the increase was mainly because of mortgage and personal loans.
The sectors driving this growth are associated with personal banking products, especially in the mortgage (5.4%) and personal loans (8.7%) sectors, as well as public sector financing that increased by 33.9%, informed the Superintendence of Banks of Panama.
In Costa Rica, the government's strong need for financing and the Central Bank's exchange rate interventions have been putting pressure on the local financial market, pushing up passive rates in Colones.
The decrease in liquidity in Colones generated by the pressure exerted by the government and the Central Bank in the local market is the main reason behind the upward trend in passive rates in local currency.
Consistent with the behavior of recent years, up to October 2018 the number of credit cards circulating in Costa Rica totaled 2.98 million, 14% more than in the same month of 2017.
From the report of the Ministry of Economy, Industry and Commerce (MEIC):
In the new version of the European Union's list of non-cooperating countries in fiscal matters, the Central American country no longer appears.
In December 2017, Panama was included by the Council of Ministers of Economy and Finance of the European Union in Annex II of the List of non-cooperative jurisdictions in fiscal matters.
The financing contract for the coffee renovation program, which the Salvadoran government plans to sign with CABEI, received its first endorsement in the Legislative Assembly.
In August 2018, it was reported that the funds will be used to respond to the challenges of the coffee sector in El Salvador, supporting the renewal of 20,777,4 blocks of the crop, also contributing to the transfer of sustainable technologies, increasing resilience capabilities and improving the institutional framework related to coffee.
A reform to the Organic Law of the National Banking System proposes to allow foreign banks to choose between a corporation or a branch as the legal form to establish themselves in the country.
Between May and September 2018, an increase was reported in the proportion of loans with payment arrears greater than 90 days, but between October and December the trend was downwards.
Data from the General Superintendence of Financial Entities (Sugef) indicate that between September and December 2018, the proportion of loans with payment arrears greater than 90 days, or in judicial collection, decreased from 2.58% to 2.14%.
In Costa Rica, Aldesa Corporación de Inversiones applied for judicial intervention because of lack of liquidity and announced the closing of the stock exchange.
From Aldesa's press release:
March 8, 2019. The uncertainty generated by the fiscal crisis among Costa Rican investors during the last quarter of 2018 led to a severe loss of liquidity in the market, which impacted the private real estate projects managed by Aldesa.
Almost three years after its approval, the Microfinance Law in Guatemala still does not have a regulation defining the way in which institutions dedicated to this activity should operate.
The MicrofinanceLaw approved in May 2016, is still waiting for the regulations that will allow its full application. This situation prevents entities seeking to operate in this activity from registering with the Ministry of Economy, since there is no regulation determining how to do so.
O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...
O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...
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