The Central American Bank for Economic Integration approved a $21.4 million extension for the financing of the "Project to Improve the Technical and Operational Capabilities of Puerto Corinto."
This extension brings the total amount guaranteed to $184.6 million, making it the largest investment in the country's port sector in recent decades, informed the Central American Bank for Economic Integration (CABEI).
Currently, financial leasing operations in Guatemala amount to $1,290 million, but with the approval of the new legal framework the portfolio could increase in the medium term between $1,677 million and $1,935 million.
The Congress approved by articles and final wording the Leasing Law, a legal framework that establishes mechanisms for people to lease with option to purchase.
With 101 votes in favor, the Plenary of the Congress of the Republic approved Decree 2-2021, Leasing Law, which regulates leasing with option to purchase in the Guatemalan legislation, informed the legislative body.
For 2021, some of the financial institutions competing in the Costa Rican market are betting on placing loans for the purchase of homes, consumer loans and business financing.
In Costa Rica, home purchase loans were already showing positive signs at the end of 2020, since in November of last year the amount of the loan portfolio in question reported a 7% year-on-year increase.
In the last few months, interest in credit cards has been increasing in the digital environment, a rise that is mainly explained by the behavior of consumers in Panama, Honduras, El Salvador and Costa Rica.
Through a system monitoring changes in consumer interests and preferences in Central American countries in real time, developed by CentralAmericaData, it is possible to project short and long term demand trends for the different products, sectors and markets operating in the region.
The Panamanian government issued a decree to raise from $60,000 to $70,000, the maximum price for a home to apply to the Solidarity Fund contribution.
Through this norm for the zone code RBS (Residencial Bono Solidario), the sale price for the housing unit and the lot cannot exceed the sum of $70,000 at the national level. Previously it was $60 thousand, for some provincial capitals, reported the Ministry of Housing and Land Management.
Setting a maximum usury rate and preventing clients from getting into debt to the extent of reducing their income below the minimum wage line are some of the changes that have arisen due to the application of the new law that has been in force since June 20.
On June 20, 2020 the Usury Law was published in the scope number 150 to La Gaceta number 147, which establishes the methodology to be used to set the maximum interest rate, from which the crime of usury will be considered to exist, details an official statement.
At a regional level, nearly 16 million people are looking to purchase financial services online. Of this group of consumers, approximately 11% are exploring options for acquiring a credit card.
The interactive information system developed by CentralAmericaData, monitors in real time the changes in consumer habits in all markets of the region, with fundamental information to understand the new commercial environment that has emerged in an accelerated manner.
In Costa Rica, a law initiative under discussion seeks to set caps on interest rates on loans, a measure that could lead to a reduction in the offer of credit for debtors classified as higher risk.
As part of a bill being discussed in the Legislative Assembly, the heads of the Central Bank of Costa Rica (BCCR) and the General Superintendence of Financial Entities (Sugef) were asked to give their views on the content of the proposal.
With a $50 million loan from the IDB, the CMI Alimentos business group will expand its operations in Guatemala, El Salvador and Honduras.
The loan was placed through IDB Invest, a member of the Inter-American Development Bank (IDB) Group, and the operation is intended to finance fixed investments that will help CMI Alimentos continue improving its productivity.
Arguing that the country's situation is complex and that the need for greater liquidity to meet its immediate responsibilities has had consequences on its funding sources, Factoring S.A. announced its exit from the local stock market.
Managers of the financial institution reported that the company began operations in 1998 and in 2011 was authorized by the Superintendence of Banks and Other Financial Institutions (Siboif), to make issues in the stock market.
To ensure financing for its future functions, the Costa Rican government will seek loans from the World Bank, IDB, CABEI and CAF during 2020, and plans to insist on the approval of $4.5 billion in Eurobonds.
For this year, the Costa Rican government plans to continue negotiating loans for budget support with the World Bank, the Inter-American Development Bank (IDB), the Central American Bank for Economic Integration (CABEI) and the Andean Development Corporation - Latin American Development Bank (CAF).
The Costa Rican government and producers signed an agreement that establishes that any government agency may request resources to carry out national and international activities to prevent or combat any pest that affects banana crops.
A bill is being discussed in Congress to facilitate financing for producers and to support them in certifying the quality of their plantations.
Because of the complex scenario faced by African palm producers because of low international prices, the Hernandez administration presented to Congress the bill "Law for the Strengthening of the Productive Sector of Oil Palm."
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