Costa Rica: Learning About Finances OnlineMonday, May 30, 2011 In Costa Rica, institutions are promoting banking and financial education to increase use of services. Buying and selling shares in the markets and learning about what goes on in a bank are some of the activities that can be done online thanks to the efforts of organizations like the National Stock Exchange and the Superintendency of Securities. Nicaragua to Create Financial Analysis UnitWednesday, April 25, 2012 The law which will give life to a new supervisory body for financial and banking activities will be submitted to the legislative plenary next week. The ruling on the law establishing the Financial Analysis Unit (Unidad de Análisis Financiero (UAF) in Spanish) will be presented on Friday and will be sent to the plenary of the National Assembly next week, said Rep. Wálmaro Gutierrez, president of the Committee on Economy, Budget and Production. Banex to Resume Operations in Nicaragua as Microfinance BankTuesday, July 20, 2010 The move will mean the closure of 10 branches and the loss of 50% of its staff. Benjamín Vides, Chairman of the bank’s board of directors, indicated that the return of customers’ deposits forms part of this process since, according to Guatemalan legislation, a lending institution cannot hold deposits. $ 40 Million IDB Loan to HondurasMonday, November 8, 2010 The loan will be used to finance the "programs to strengthen the financial safety net and improving access to financing." The IDB representative in Honduras, Miguel Manzi, at the signing ceremony said the purpose of the Inter-American Development Bank is to support the government in a program for financial reforms and institutional changes in the sector. Risk indicators for banks in Costa Rica made flexibleThursday, October 23, 2008 The objective of the Superintendence of Financial Entities is to strengthen bank liquidity in order to prevent being affected by the global crisis. Superintendent, Oscar Rodriguez, justified the decision to ease some risk indicators for financial entities in order to allow them to "raise" more liquidit, since they do not know how great the impact of the global financial crisis will be. He emphasized that the equity requirements will not change. El Salvador: Deposits Could Pay Income TaxWednesday, October 21, 2009 If the tax reform is approved, local and foreign deposits would pay 10% income tax. Financial institutions will be responsible for making retentions to pay the tax. Only deposits with over $5.000 in balance will be taxed. Financial Inclusion: Data and TrendsWednesday, November 5, 2014 The microcredit portfolio in Latin America and the Caribbean is worth over $40 billion, is awarded by more than 1,000 institutions, and reaches more than 22 million customers. From a statement issued by the Inter-American Development Bank (IDB): Lehman effect on PanamaTuesday, September 16, 2008 The fall of Lehman Brothers and the sale of Merrill Lynch shook stock markets all over the world. These announcements have caused a general fall in the international markets, however, the Panama Stock Exchange did not react to these events. As a matter of fact, it closed with a 1.31% increase. The Lehman effect on Costa RicaWednesday, September 17, 2008 Analysts and economic gurus are forecasting a dark future for the Costa Rican economy, after the failure of Lehman Brothers. Things could get worse with the announce on Sunday of the sudden sale of Merrill Lynch, in which the Central Bank of Costa Rica probably has some assets, to Bank of America. Economic Noble peace prize winner on the CrisisTuesday, December 9, 2008 Edmund Phelps, 2006 Economic Noble peace prize winner, will analyze the effects of short and long term effects on the macroeconomic policies. He recommends providing incentives for the creation of new companies that generate novel ideas for activating the economy. Costa Rica business brace for crisisTuesday, October 7, 2008 Companies exporting to the US are seeking new markets and emphasizing the efficiency of their operations. Some are diversifying their markets and are looking for clients in the Caribbean, Central America and even in South America; others are highlighting the production efficiency that help to reduce costs. IDB approves $500 million for Costa RicaFriday, December 19, 2008 The funds will be used to deal with the possible lack of liquidity next year due to the international financial crisis. "This loan will inject Zuniga, who also added that with the funds from the IDB the authorities are seeking to provide "sustainable growth" for the Costa Rican economy. Savings guaranteed in El SalvadorFriday, December 26, 2008 The IGD will extend its savings guarantee to $8,500 for clients in cooperative banks and non banking financial institutions. As reported by elsalvador.com, the Institute for Savings Guarantee (IGD) "will provide a guarantee similar to that currently in place for banks regulated under the Banking Law, to these organizations, that will join the Institute as member entities". We will back efforts by Honduras to avoid economic chaos, says IDB representativeMonday, May 26, 2008 Steven Stone, the Inter-American Development Bank (IDB) representative in Honduras said the bank will do all it can to support measures that avoid economic turmoil. The IDB is the principal institution in providing economic aid to Honduras. Stone said that economic chaos would mean more unemployment, greater poverty and the collapse of production. El Salvador: Unions Oppose Greater Financial RegulationTuesday, September 20, 2016 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. , "... |
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