Summary of recent practice with respect to compression and payment mechanisms in Central America

Abstract

CENTRAL AMERICA HAS BEEN A REGION WITH AMPLE EXPERIENCE IN THE DESIGN AND MANAGEMENT OF MULTINATIONAL PAYMENT MECHANISMS. THE MECHANISM WITH THE GREATEST INCIDENCE, BOTH IN TERMS OF ITS DIRECTION AND VOLUME OF OPERATIONS, WAS THE CENTRAL AMERICAN CLEARINGHOUSE (CCC), WHOSE ACTIVITY WAS SUSPENDED IN JULY 1991. THE CENTRAL AMERICAN PAYMENT SYSTEM (SCP), A FLUID AND RELIABLE PAYMENT SYSTEM, BOOSTED A FRANKLY SPECTACULAR GROWTH IN FOREIGN EXCHANGE, HOWEVER, THE REGION IS FACING THE NEED TO TAKE ADVANTAGE OF THE OPERATION OF FINANCIAL MECHANISMS THAT SAVE FOREIGN EXCHANGE IN THE PAYMENT OF INTRAREGIONAL TRADE.