Region bank to issue joint currency, report

Santo Domingo.- The Central American Bank for Economic Integration (CABEI) will issue local currency in Costa Rica, Honduras and the Dominican Republic to lend to local banks and that they do the same with medium and small industry, a source reported Monday to an official in Tegucigalpa.

The resources will be used for construction projects in the medium and long term, with eight-year issues, and will stimulate pension funds that are looking for quality titles to have on their list of assets, said the president of CABEI, Dante Mossi.

“I believe that CABEI is showing signs that are quite encouraged at the level of penetrating our region and using all this capital that comes from the countries that are friends of the Bank, which are giving us ideas and accompanying us in this type of reform,” said Mossi.

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