On April 20, the Senate Finance Committee debated two bills which seek to amend the Constitution and authorize the Central Bank to obtain, grant and finance loans for the State and public or private entities. The Committee is expected to continue debating the initiatives in a future session. The meeting was attended by Central Bank President Mario Marcel whose presentation can be accessed by clicking here.

The first bill proposes a constitutional reform to regulate Central Bank faculties so that it can grant loans to public entities during the state of constitutional catastrophe emergency.

The second bill establishes that the Central Bank can obtain, grant, or finance credits to the State and public or private entities in exceptional situations, including the health alert decreed, with the prior agreement of the President of the Republic. The proposal also contemplates war with foreign countries. 

In addition, the Central Bank has launched a new web platform containing information on all the exceptional measures taken by the institution to-date in relation to COVID-19. The page will be updated periodically.