El Salvador

 August 31, 2022

Bancoagrícola's Vice President of Finance, Alexander Pinilla, affirmed that the liquidity of the Salvadoran financial system remained positive in the first half of 2022. In this sense, Pinilla said that deposits in the Salvadoran financial system would continue to grow in the second half of 2022; however, he indicated that the growth rate of deposits would slow down. In this context, in the second quarter of 2022, Bancoagrícola's total deposits increased to USD 16.5 billion, while loans reached USD 15.5 billion.

Argentina

 August 31, 2022

Argentina's Minister of Economy, Sergio Massa, managed to close his first month in office with a debt placement of ARS 212,236 million. On Monday, in the second tender of August, the Secretary of Finance offered a bid for four securities maturing in 2022 and 2023. In this tender, the Treasury issued a Liquidity Bill (LELITE) maturing on September 30th, 2022; in addition, two discount bills (LEDE) maturing on December 16th, 2022, and January 31th, 2023, and an inflation-adjusted bill (CER) maturing on June 16th, 2023.

Bolivia

 August 31, 2022

On Tuesday, Bolivia's President Luis Arce announced that he had approved the acquisition of USD 1,142 million in debt. According to studies, the country's external and internal indebtedness is currently at least 78.8% of the Gross Domestic Product (GDP). In detail, about 12 decrees were authorized by the Bolivian government to acquire debt contracts with the CAF, IDB, Fonplata, ICO, Eximba, KfW, and IFAD; to boost employment, health, water and sanitation, irrigation, climate change, roads, and energy projects, and to strengthen the State's statistical system and other public investment projects. 


Costa Rica Report highlights

 

Although one of the "leitmotifs" of former President Alvarado Quesada was to leave the "house in order," this has been questioned by various political sectors, including the new President and economist, Rodrigo Chaves. 


Administration of Rodrigo Chaves announced on June 22nd, 2022, the modification of the fiscal rule. This occurred after the National Child Welfare Agency (PANI) authorities raised alerts due to the restrictions to urgently allocate resources to private organizations that care for vulnerable minors since they denounced that they would run out of money to operate after June 30th.


Venezuela

 August 31, 2022

On Monday, the Presidents of the nations that make up the Andean Community (CAN) - Colombia, Ecuador, Peru, and Bolivia - said they would like Venezuela, Chile, and Argentina to join the group. "If we manage to integrate Chile, Venezuela, and Argentina... I think this would change things significantly, and our voice would be heard more clearly on the world stage," said the Colombian President, Gustavo Petro. "I would like to express how important it would be for the Andean Community, and the benefits for its members, for Chile and Venezuela to rejoin," said the Peruvian President, Pedro Castillo. 

 

Ecuador

 August 31, 2022

The preparation of the General State Budget for 2023 will begin in September, and the Ministry of Finance already has a few starting points. One of them is the price of oil, one of the primary sources of income for the State's budget. According to the International Monetary Fund (IMF), the price of Ecuadorian oil will average USD 75.3 per barrel in 2023. With that price, the budget's oil revenues would fall by around USD 500 million compared to 2022, warned the former Minister of Finance, Fausto Ortiz.


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