Arias Said He Will Be
Offering Private Banks
Help As Well
Costa Rican president,
Oscar Arias, says that
his government is
prepared to also help
out the private banks to
face the impact of the
world economic crisis,
to help them continue to
lend money to small and
medium sized businesses,
in the similar way the
state banks got a cash
infusion.
Arias said that
following the end of
year break, the
government will work
with the Legislature on
measures to "suppoer the
private banks", to help
them reinforce their
financial situation and
liquidity.
The president was not
specific in his comments
on what he will be
offering the private
banks.
Last week the
Legislature approved a
transfer of us$117.5
million for the three
state banks - Banco
Nacional (BN) and the
Banco de Costa Rica (BCR),
with us$50 million
dollars each and us$17.5
millon for the Banco
Credito de Agricola
Cartago (Bancredito).
The Banco Popular was
not included in the plan
as it is not deemed a
wholly owned state bank.
The state banks will be
receiving the cash
before the end of the
year so that they can
start lending in the new
year.
Arias made the statement
of the private banks to
the state television
channel while attending
the Vuelta Ciclista a
Costa Rica in Belén.
Arias reiterated his
statement made earlier
this week, calling on
business owners to cut
their salaries before
cutting jobs.
"They should start
cutting the salaries of
managers, high
executives, so that
workers are not
affected", Arias said in
his comments to big
business.
"Those with more should
extend their hand, with
Christian Spirit, to the
poor", said Arias. |
