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IDB approves $100 million credit for El Salvador

Wednesday, November 27, 2013

The Inter-American Development Bank has given approval for a contingent line of credit up to $100 million to the Central Reserve Bank of El Salvador.

The resources will lessen the effects which external macroeconomic and financial shocks could have on the country.

With the financing, El Salvador's central bank will have a new vehicle for collecting and accumulating reserves to be used to distribute liquidity to illiquid but solvent financial institutions, supplementing the temporary liquidity supports.

Source: Hispanic Business