CABEI lowers sovereign public sector interest rate for the second time this year
By: CABEI News, Financiamiento
San Salvador, November 27, 2019.- Today, in the framework of its Board of Directors meeting, the Central American Bank for Economic Integration (CABEI) reported an improvement of 0.10% in the margin applicable to Sovereign Public Sector operations under the variable interest rate scheme with a 6 month LIBOR rate.
This reduction will enter into effect as of December 1, 2019, benefitting both portfolio operations and those that are approved with pending disbursement.
It is noteworthy that this is the second rate improvement during 2019, considering that in April a 0.15% reduction was implemented. Thus, the improvement for the year amounts to 0.25%.
In line with the above, CABEI Executive President, Dr. Dante Mossi, explained that, “This interest rate reduction is the result of the Bank’s favorable risk rating evolution, which has allowed to continuously improve financing costs.”