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Central banks to slash costs of trade in the region

Friday, February 18, 2011

The central banks of Central America and the Dominican Republic signed an agreement to cut the costs of money transfers.

Currently, correspondent banks in the US are used in Central America for import and export transactions.

In March, however, the central banks of Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and the Dominican Republic will make the transactions at lower costs.

Original source (in Spanish): Prensa Libre