The Credit Situation in El SalvadorAn analysis of the changes in the dynamics of granting credit, in an interview with the Superintendent of the Salvadorian Financial System.Wednesday, February 18, 2009 ![]() 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. Source: laprensagrafica.com Costa Rica has $320 Million for Development FrozenMarch 2009 The money is intended for loans to small and medium sized businesses at preferential rates, but Bancrédito, the state bank which manages it, alleges legal flaws that prevent it from granting them. Credit for Private Sector Drops to 8.3% in GuatemalaApril 2009 Up to and including April 9, the total growth (including loans in local and foreign currency) was 8.3%, the lowest in the last two years. Salvadoran Banks ask for lower credit rate from the IDBDecember 2008 ABANSA believes that the cost of accessing the $500 million made available with IDB funds is too high. $500 million for Salvadoran financial sectorNovember 2008 In an unprecedented move since the dollarization of the country's economy, the BCR will inject ready money into the local financial sector. |
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