españolCredits: Rate Limits Decrease in Costa RicaMonday, January 11, 2021 By the first half of 2021 all maximum annual interest rates that are estimated by the Central Bank will decrease compared to those imposed in the second half of 2020. On January 8, 2021 the Central Bank of Costa Rica (BCCR) published, on its website and in the official newspaper La Gaceta, the new maximum annual interest rates for credit operations in colones, US dollars and other currencies.
BUSINESS OPPORTUNITY
IT Solutions: Tender for $3 millionFriday, January 15, 2021 The Bank of Costa Rica tenders the advanced email solution Security Gateway, under the delivery on demand modality. Costa Rica Government Purchase 2020LN-000014-0015700001: Panama: Credit History Law EnactedMonday, January 4, 2021 The law regulating the service of information on the credit history of consumers in the country was published in the Official Gazette. After the legislative plenary approved in third debate initiative 424, which modifies Law 24 of 2002 related to this system of registration in the Panamanian Association of Credits (APC), in the last days of 2020 the Executive approved the bill. Economic Recovery: Honduras RetreatsTuesday, January 19, 2021 As a result of the pandemic in May 2020, the IMAE hit bottom by falling 22% year-on-year, but from June onwards, smaller falls began to be reported and in October the decline was barely 1%; however, in November the country fell back by 12%. National production, measured through the original series of the Monthly Index of Economic Activity (IMAE), reflected a 12% year-on-year decrease in November 2020, determined by the negative impact of the pandemic, to which was added the losses in production due to the flooding caused in the national territory in the first half of November by the occurrence of tropical storms Eta and Iota. Liquidity Line for $2.7 Billion for PanamaWednesday, January 20, 2021 The IMF approved a two-year agreement in favor of the Central American country under the Precautionary and Liquidity Line for an amount equivalent to $2.7 billion, which will serve as insurance against extreme external shocks derived from the Covid-19 pandemic. Access to the LPL in the first year will be in an amount equivalent to about $1.35 billion. Opportunities for Central American BankingWednesday, March 14, 2012 Fitch Ratings has conducted analysis on the hidden potential of the banking systems of countries in the region. The prevailing economic environment in Central America is forcing banks to preserve and enhance profitability. Economic Growth: Improved Forecasts for the RegionThursday, January 14, 2021 The World Bank has improved economic growth projections for all Central American economies for 2021, with Honduras, El Salvador and Panama having the most promising forecasts. In June 2020, when the health and economic effects of the pandemic that caused the covid-19 outbreak were beginning to be reported, the World Bank predicted that in 2021 Nicaragua's Gross Domestic Product would decrease by -1.6%, but in a January 2021 publication it projected that the drop would be -0.9%. Bank consolidation in Central AmericaThursday, July 24, 2008 The process of consolidating banking services in Central America is linked to the entrance of international banks into the region and the potential for attracting new customers to use banking services. In the last two years, there's been a change in the way consolidation takes place. Government: Lights, Shadows and ChallengesThursday, January 14, 2021 The agile execution of economic stimulus programs, the considerable increase in public debt and the need to accelerate the process of economic reactivation are the lights, shadows and challenges identified a year after Alejandro Giammattei took office as president of Guatemala. On January 14, 2020, when Giammattei took office as president of Guatemala, he received a country with weak institutions, legal uncertainty and a business sector that was asking for a less "hostile" environment for new investments. Commercial banking growing in NicaraguaWednesday, September 24, 2008 The Nicaraguan financial system is getting stronger everyday and its credit portfolio throughout the country is growing, the banking system is growing at a bi-annual rate of 25.1%. According to official reports from the Central Bank of Nicaragua (BCN) for July 2008, the credit portfolio managed by the seven banks and thre financial organizations in the country under the supervision of the Superintendence of Banks is at total of 44.7 million cordabas ($117.8 million). Commercial credit is the strongest, followed by mortgages, and then personal loans. Economic Recovery: Costa Rica StagnatesTuesday, January 12, 2021 In the context of the pandemic, the Costa Rican economy does not show clear signs of recovery, since during November 2020 the Monthly Index of Economic Activity reported an annual fall of 6.2%, a decline that is similar to that reported in October when it was 6.3%. In November, the contraction persisted, in year-on-year terms, in most economic activities. The most affected are: hotels and restaurants (-52.3%), transportation and storage (-20.6%), construction (-19.7%) and commerce (-12.4%), reported the Central Bank of Costa Rica. Economy: Honduras Imposes RestrictionsMonday, January 11, 2021 In order to mitigate the spread of the coronavirus in the country, from January 10 to 17, a curfew will be applied between 9:00 p.m. and 5:00 a.m. the following day, and children will also be prevented from entering stores. The exception in the circulation in not allowed schedules is subject to institutions described in the current PCM, transport of heavy load and person with safe-conduct authorized by the Secretary of Security, details an official document. Bank Deposits Grow 7% in PanamaMonday, March 14, 2011 In late January 2011, the Panamanian banking system recorded $ 44.582.000 in deposits, 7% more than the same month of 2010. MEF analysts highlight the fact that internal and external deposits increased in comparison to last year and pointed out the assets Panama has built after the great financial crisis. Central American Banks Resists ContagionTuesday, July 10, 2012 Fitch believes that increased volatility of international markets has had only a marginal effect on the stability of savings in the banks passive mix. The funding of the Central American banks, led by domestic deposits in about 90%, had its strength tested during the spread of the financial crisis, according to a new report from Fitch Ratings. Economy in 2021: How to Accelerate Recovery?Monday, January 4, 2021 Strengthening the confidence of economic agents through a solution to the problem of public finances and moving forward with the process of vaccinating the population are key factors for the Costa Rican economy to recover quickly in the new year. The spread of covid-19 and the restrictions imposed at the local and global levels severely affected most of Costa Rica's productive sectors, to the extent that the unemployment rate climbed to historical levels, several businesses were closed and economic activity fell sharply. |
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Monday, January 25, 2021 - last update: 5:03 pm
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