The Assembly of Governors of the Central American Bank for Economic Integration (CABEI), maximum authority of the institution, unanimously elected Nick Rischbieth Glöe, a Honduran citizen and PHD in Finances, as the new Executive President, for a five-year term, and who will officially come into office as of December 1, 2008.

For the second time in its 47 years of existence, the election of the officer oh highest hierarchy in the Bank’s administration was performed based on a contest among citizens from the five Central American founding member countries of CABEI (Guatemala, El Salvador, Honduras, Nicaragua, and Costa Rica).

The Assembly of Governors comprises Ministers of Economy, Finance, or Presidents of the Central Banks of the member countries of the Bank.

Dr. Nick Rischbieth, has a long history of service in the Central Bank for Economic Integration. He began his service as Treasurer of the Bank in 1995. Then, in 2003, he was appointed Manager of the Financial Department. In 2007, after a contest, with the participation of citizens from all member countries of the Bank, the Board of Directors selected Dr. Rischbieth as Executive Vice-President of the Institution. Among his chief accomplishments during his professional carrier as part of the Administration of CABEI, can be highlighted achieving the investment grade with the most important rating agencies worldwide, starting in 2001, with the NAIC II rating (Equivalent to BBB), which allowed the Bank to gain access to US private market issuances, and followed by ratings from Standard and Poor’s, Moodys, Fitch and finally Japan Credit Rating Agency, which opened the doors to global capital markets and made it possible for CABEI to form the global procurement platform which has made available financing for the Bank’s development.


In this last field, Dr. Rischbieth made it possible for CABEI’s issuances to be a great success. Starting in 1997 and 1998, with the first issuances in the Bank of the Republic of China (Taiwan) and followed by issuances in other markets such as United States, Mexico, Colombia, Japan, Singapore, Hong Kong and Thailand. It is important to emphasize the relentless work performed at the level of the capital markets in the region, where public and private issuances have taken place in El Salvador, Costa Rica and Honduras under the umbrella of the Mid Term Notes Program (“MTN Program”),and which has fostered diversification and soundness of each market with first class financial instruments, as well as the implementation of projects geared to enhancing transparency and integration conditions of capital markets in the region.

Dr. Rischbieth has been the chief promoter of the prudent financial management and the implementation of sound financial policies that have led to a sustained growth with improved outcomes at the level of profitability, capitalization and market risk management, by institutionalizing, for example the Assets and Liability Committee. His management has given place to an enduring enhancement in the quality and transparency of the financial information of the Bank, as well as the implementation of the best financial and accounting practices. With all the aforementioned, Dr. Rischbieth has positioned the Central American Bank for Economic Integration (CABEI) as one of the sounder financial institutions in Latin America and has promoted an forward-thinking image at the international level, not only of the Bank, but also of the Central American Region.

Dr. Nick Rischbieth, has a PHD in Finance from the Institute of Money and Capital Markets of the University of Hamburg, Germany; a Masters in Business Administration from Washington University in St. Louis, Missouri and a BS in Economy from Rice University, Houston, Texas.

Before joining CABEI, Dr. Rischbieth was Vice-President of the Division of New Issuances in Capital Markets, and later of the Division of International Financial Markets of the Dresdner Bank AG in Frankfurt, Germany, covering countries of Asia and Oceania.

In the Assembly of Governors, the Central American Countries were represented by: for Guatemala, Juan Alberto Fuentes Knight, Minister of Public Finances; for El Salvador, Ricardo Esmahan D´aubuisson, Minister of Economy; for Honduras, Hugo Castillo Aldana, Vice- Minister of Public Credit and Investment; for Nicaragua, Antenor Rosales Bolaños, President of the Central Bank of Nicaragua; for Costa Rica, Guillermo Zuñiga Chavez, President of the Assembly and Minister of Finance.

Non-regional member countries of the bank were represented by, for Mexico, Jesus Camarasa, Director of Finance Affairs for Latin America; for the Republic of China (Taiwan), Adolfo Sun, Ambassador for the Republic of China in Guatemala; for Argentina, Ernesto Justo Lopez, Ambassador for the Republic of Argentina in Guatemala; for Colombia, Eduardo Lopez, Ambassador of Colombia in Guatemala; for Spain, Maria Garcia, General Sub-Director of the General Direction of Multilateral Financial Institutions; for Dominican Republic, Maria Felisa Gutierrez, Under-Secretary of State of the Treasury; for the Republic of Panama, Mahesh Khemlani, Public Credit Sub-Director.

CABEI is the leading provider of financial solutions for the development of the region. With US$5,242.5 million dollars in assets, the Bank had disbursed as of September this year, 1,215.3 million dollars in the region. This reflects the Institution’s commitment with the development and integration of its member countries.


About CABEI

With its headquarters in Tegucigalpa, Honduras, CABEI is the leading provider of financial solutions for the development of the region. As part of the regional integration process and with the purpose of promoting the economic and social development of Central America, the Central American Bank for Economic Integration was founded in December 1960, by the Republics of Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica. To date, the Bank has incorporated non-regional members to its capital: Mexico, the Republic of China (Taiwan), Argentina, Columbia, the Kingdom of Spain, Panama and Dominican Republic, Belize was also incorporated to the bank as non founder beneficiary country. During 2007, CABEI approved and catalyzed more than US$2.890 billion for the benefit of the Region.

Today, the Bank has four grade-A ratings granted by the different rating agencies. These were assigned by: Standard & Poor´s, A-, Moody´s A2 rating, Fitch Ratings A-, and A+ by the rating agency Japan Credit Rating (JCR).