Designation of $500 million in El Salvador still undefined.Tuesday, December 16, 2008 The system of designation for the IDB loan of $500 million is still under discussion by the authorities of the Central Reserve Bank. The president of the institution, Luz Maria de Portillo, said that the Board of Directors is still dealing with the matter. The Credit Situation in El SalvadorWednesday, February 18, 2009 An analysis of the changes in the dynamics of granting credit, in an interview with the Superintendent of the Salvadorian Financial System. Luis Armando Montenegro, Superintendent of the Financial System, in an interview published in La Prensa Gráfica, responds to questions about the liquidity of the Salvadorian financial system, the contraction of external credit to the local banking system, changes in the granting of loans, and interest rates, among other issues. $500 million for Salvadoran financial sectorWednesday, November 12, 2008 In an unprecedented move since the dollarization of the country's economy, the BCR will inject ready money into the local financial sector. The IDB approved an operation for the Central Reserve Bank to buy a credit portfolio totalling $500 million from banks giving them more liquidity to support the production sector. Salvadoran Banks ask for lower credit rate from the IDBThursday, December 4, 2008 ABANSA believes that the cost of accessing the $500 million made available with IDB funds is too high. Armando Arias, president of the group said that the rate of the funds corresponds to the LIBOR plus 400 base points more in commissions and is practically the same as the rates offered by other international lenders. El Salvador needs $1 billion to deal with the crisisWednesday, November 5, 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. Central American Banks: Special ReportThursday, September 29, 2011 Fitch Ratings has issued a special report entitled, "Central American Banking: After the Crisis, a Disparate Evolution" In Fitch's opinion the banks have shown a mixed performance in Central America during the period of the global financial crisis. At the same time, banking systems have dissimilar perspectives on future performance, reflecting different economic growth prospects in the region. Central American Banks: Annual Results and PerspectivesWednesday, April 15, 2009 Fitch Ratings reported that the risks to regional banks during the current crisis are growing and represent a major challenge for 2009. The combination of reduced credit expansion, fund restrictions and increasing loan provisions have limited the profits of most banks and it is expected for these factors to continue to pressure the results in the coming months. Central American Banks: Annual Results and PerspectivesWednesday, April 15, 2009 Fitch Ratings reported that the risks to regional banks during the current crisis are growing and represent a major challenge for 2009. The combination of reduced credit expansion, fund restrictions and increasing loan provisions have limited the profits of most banks and it is expected for these factors to continue to pressure the results in the coming months. BCIE approves $500 million for the regionMonday, November 17, 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. $200 Million need by Salvadoran industriesFriday, December 5, 2008 The Association of Industrial Companies (ASI) indicated that it will need at least $200 million to reactivate the industry and investments that have been paralyzed due to lack of credit. The proposal was made by the executive director of ASI, Jorge Arriaza, who pointed out that they are concerned about comments by the Salvadoran Banking Association (Abansa) which complained that credit from the Inter-American Development Bank (IDB) for 500 million dollars was too expensive and had short terms, in addition to the fact that certain sectors would not have greater access to the funds. No Latin American country will be saved from crisisMonday, October 27, 2008 The financial crisis will affect all Latin American countries, despite the fact that they are better position than in the past to withstand it, said Juan Jose Daboub, general director of the World Bank. Daboub, ex minister of Economy for El Salvador, will be in Panama next week and in his country of origin, where he will participate in the Ibero-American Summit. Bank, Insurer and Stock Exchange RankingsFriday, March 27, 2009 Summa Financial Special: Presenting the classification and analysis of the regional financial system. In the April edition, Revista Summa will present its bank, insurer and stock exchange rankings. On the whole, it shows a healthy sector with the capacity to face the challenges ahead. Regional banking groups have gained greater importance and the magazine identified ten that represented 33% of the assets for 2008. Central America: External Vulnerabilities in FocusTuesday, October 21, 2008 This special report examines the channels through which Fitch-rated sovereigns in this sub-region could be impacted by external shocks, the robustness of their various policy frameworks and the implications for creditworthiness of increasingly challenging international conditions. The US financial crisis has spread across the international financial system. |
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