As part of the celebration of the bicentenary of independence from the Spanish Crown

Heads of Central American central banks analyse the economic crisis

photo_camera banco-central-honduras

The presidents of Central America's central banks discussed the current economic crisis and the region's future challenges on Wednesday at a meeting in Honduras to mark the bicentenary of independence from the Spanish Crown.

The aim of the regional meeting was to "deepen" the monetary policy measures adopted by each Central American country and their economic growth forecasts, according to a statement distributed by the Central Bank of Honduras (BCH).

The central bank presidents also discussed "the role of central banking" in Central American countries, it added.

The meeting, entitled 'Evolution of economic thinking and future challenges in the Central American region', was inaugurated by BCH president Wilfredo Cerrato, and brought together representatives of the member countries of the Central American Monetary Council (CMCA), according to the information.

"2021 is a year that will mark the history of Central America, not only because it marks 200 years of independence, but also because all countries share common challenges due to the economic and social effects caused by the COVID-19 pandemic that we must overcome through the timely adoption of public policy measures," Cerrato stressed.

The meeting was attended by the President of the Central Reserve Bank of El Salvador, Douglas Rodríguez, and the President of Costa Rica, Rodrigo Cubero. In virtual format, the head of the Central Bank of Nicaragua, Leonardo Ovidio Reyes, and the vice-president of the Central Bank of Guatemala, José Alfredo Blanco, participated.

Historians Jorge León (Costa Rica), César Alvarado (El Salvador), José Molina (Guatemala), Ismael Zepeda (Honduras) and Jorge Arellano (Nicaragua) discussed the evolution of economic thought since colonial times, with the aim of "highlighting its importance in the development of the region's current economic model", according to the BCH.

The event was organised by the BCH with the support of the CMCA, an organ of the Central American Integration System (Sica) created on 25 February 1954 by the Agreement for the Establishment of the Central American Monetary Union.

This body is responsible for adopting the necessary actions to achieve the coordination, harmonisation and unification of the monetary, exchange rate, credit and financial policies of the Central American countries.
 

More in Economy and business