CABEI and FLAR sign agreement to promote joint macroeconomic and integration actions
16.01.2020 00:00 By: CABEI News, Colombia, Integración Económica, Integración Regional Age: 38 days
The institutions identify new opportunities for economic growth in the Latin American region.
Tegucigalpa, January 16, 2020.- The Central American Bank for Economic Integration (CABEI) and the Latin American Reserve Fund (FLAR) signed a memorandum of understanding aimed at promoting cooperation and collaboration, specifically modalities and opportunities for financing central banks.
CABEI Executive President, Dr. Dante Mossi, commented that the Bank is committed to working towards economic integration and development, which will allow countries to make progress on issues of macroeconomic stability, economic growth and poverty reduction.
In this regard, he highlighted that the CABEI General Credit Regulations establish that, within its scope of work, it may grant revolving credit lines to the Central Banks of the founding member countries with the fundamental objective of supporting liquidity management in these institutions.
In this regard, FLAR Executive President, José Darío Uribe, reaffirmed the commitment of the institution to contribute to the region's macroeconomic and financial stability by strengthening regional financial agreements and bilateral cooperation between the multilateral organizations.
It should be noted that the agreement considers the following mutual interest action areas: Technical cooperation, information exchange and consultation, and temporary staff exchange.