Central America promotes joint credit fund

SAN PEDRO SULA, Honduras - Central American leaders are pledging to create a joint credit fund and promote fiscal stability to cope with the effects of the world financial meltdown.

The leaders say the fund will go toward developing their impoverished economies. They say investment priorities will be in infrastructure, agriculture, commerce and production. They did not specify how the fund would be financed.

They are also pledging prudent monetary policies and measures to stabilize prices of basic products.

Central American governments are concerned the financial crisis will curtail foreign investment and the amount of money their citizens abroad send home.

The presidents met Friday in Honduras.

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