On September 19, the Central American Bank for Economic Integration (CABEI or BCIE in Spanish) as part of the strengthening of the national macroeconomic stability in case of potential problems in the financial system approved a credit line of 200 million dollars to the Central Bank of Nicaragua (BCN).
CABEI representative for Nicaragua, Silvio Conrado, stated to reporters the availability of the credit from the Central Bank to prevent situations that may affect its liquidity to an external financial crisis.
While CABEI declares that Nicaragua has not needed to make use of this facility, it is given as a protection for an eventual international economic crisis. The president of the Bank considered that in case of being necessary, there will be no hestitation in using such funds.
CABEI said that the confidence in the Nicaraguan private banking is held thanks to the strength of monetary and fiscal policies that the Government of Nicaragua has been implementing. The bank also highlights the macroeconomic and financial stability that Nicaragua has maintained in recent years.
The loan will help reassure savers and the Nicaraguan financial system. It serves to support the already robust financial position, a healthy and stable financial system and the balance in the public finances, said the president of the Bank, Ovidio Reyes