Finance
in Central America
Wednesday, May 23, 2012
In Central America a pension plan, that is unprecedented in the world, will be offered to users of microcredit.
The Central American and Caribbean Microfinance Network (Redcamif) is driving a pilot program, the first of its kind in the world and in the region, called Retirement Funds-Micro Pensions as an option for customers in the sector to have a pension fund.
Tuesday, May 22, 2012
Governments should act as good parents, thinking about the welfare of future generations, not just about the next election.
Governments should act as good parents, thinking about the welfare of future generations, not just about the next election.
In his article in Martes Financiero, Oscar Castaño Llorente discusses the rationale of the proposed creation of the Panama Savings Fund (FAP in Spanish), not only in its philosophical scope, but also in the practices of the present and future.
Monday, May 21, 2012
Hedges are instruments whose results depend on an ongoing risk analysis of the exchange rate differential.
An article in Elfinancierocr.com states that "monitoring leading indicators , counting, and using averages for time periods and curves are some of the recommendations provided Gaggion Amedeo, manager of HSBC's financial markets in the country."
Monday, May 21, 2012
With a secondary market with little dynamism, competition for customers is increasing, with operators opting for different strategies.
Jorge Velez, manager of Interbolsa Panama, Santiago Fernandez, president of SFC Investment Company, and Arthur Mirando, vice president of Thales Securites, analyze the last year’s results of their respective companies, the stock market behavior, and strategies that they have adopted in order to grow.
Monday, May 21, 2012
Companies in the real estate, energy and finance sectors, up to May 2012, have been working towards raising capital through the Panama Stock Exchange.
Inmobiliaria Don Antonio (commercial sector, $100 million), Hydro CAISAN (energy) and Allied Factoring (finance, $50 million) are at the top of the list of issuers that have registered deals with the Superintendency of Securities of Panama, which added together total $280 million in corporate bonds.
Monday, May 21, 2012
It is no longer enough to use only a passport to open a personal bank account in Costa Rica, instead an identity document issued by the Immigration Department must be provided.
Foreigners living in Costa Rica and diplomats must comply with the additional requirement of carrying a Costa Rican identity card in order to open a bank account, from 1st July.
Thursday, May 17, 2012
The bill which creates the Financial Analysis Unit in Nicaragua does not clarify the obligation to provide a basis for investigations conducted by the institution.
The Superior Council of Private Enterprise (COSEP) and the Association of Private Banks of Nicaragua (Asobanp) have pointed out inaccuracies in a legislative decree regarding the power the future Financial Analysis Unit to conduct investigations in Nicaragua.
Wednesday, May 16, 2012
A new monetary policy prepared by the Central Bank of Honduras affects the competitiveness of the financial sector and credit availability.
Honduran banks reduced by $1,500 million the amount available for loans to the productive sector and may raise interest rates in light of provisions by the Central Bank of Honduras.
Tuesday, May 15, 2012
The Nicaraguan economy has recovered strongly supported by high export prices and a reasonable macroeconomic policy.
A statement from the International Monetary Fund (IMF) reads:
Mr. Marcello Estevao, Head of IMF Mission to Nicaragua, made the following statement:
Tuesday, May 15, 2012
Interest rates are being pushed up by the yields paid by the Treasury in its colon securities.
From Aldesa's Pulso Bursátil Blog
Interest rates or income paid by the Ministry of Finance for the deposits in colones faced some upward pressure today.
Monday, May 14, 2012
A passive base rate in excess of 12% would be problematic, affecting the behavior of borrowers and is likely to cause an increase in defaults.
The Passive Base Rate (PBR) reached 10% on May 9, a level not seen since October 2009. The banks set their interest rate according to the PBR and charge an additional margin. It is estimated that there are 400,000 public bank transactions related to this indicator, reported Elfinancierocr.com.
Friday, May 11, 2012
The transition of the Comisión Nacional de Valores (National Securities Commission) to the new entity has been affected by administrative and legal difficulties which are causing confusion.
The process is suffering from legal and administrative complications in the absence of a regulation in the new law regulating the securities market, which has led to administrators not making decisions nor responding to consultations, among other problems.
Thursday, May 10, 2012
A bill that would infringe the privacy of information relating to citizens and business has risen alarms in the Superior Council of Private Enterprise.
The future Financial Analysis Unit (UAF in Spanish) would have excessive discretion to request information from public and private entities, said President of the Superior Council of Private Enterprise (COSEP), Jose Adan Aguerri.
Wednesday, May 9, 2012
New legislation is being prepared in Guatemala, which will require recipients of micro credits to receive training on how to use such resources.
The Superintendent of Banks in Guatemala, Victor Mancilla, said "we wouldn’t give money to entrepreneurs without them having first received training on how to manage their business", said Siglo21.com.gt.
Friday, May 4, 2012
Panama and El Salvador are seen by Grupo Sura as countries "with political, social and macroeconomic stability" for their expansion projects.
The president of Colombia's Grupo Sura, David Bojanini, said his holding company plans regional procurement in countries that provide economic, political and especially legal security.
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