**Exhibit 12.1**

**CERTIFICATION**

| I, Jaime   Rivera, certify that: |
|----------------------------------|
|                             |
| 1.                               | I have   reviewed this annual report on Form 20-F of Banco Latinoamericano de   Exportaciones, S.A.; |
| 2.                               | Based on my   knowledge, this report does not contain any untrue statement of a material   fact or omit to state a material fact necessary to make the statements made,   in light of the circumstances under which such statements were made, not   misleading with respect to the period covered by this report; |
| 3.                               | Based on my   knowledge, the financial statements, and other financial information included   in this report, fairly present in all material respects the financial   condition, results of operations and cash flows of the company as of, and   for, the periods presented in this report; |
| 4.                               | The company’s other certifying officer and I are responsible forestablishing and maintaining disclosure controls and procedures (as defined inExchange Act Rules 13a-15(e) and 15d-15(e)) for the company and have: |
|                             | a) | Designed   such disclosure controls and procedures, or caused such disclosure controls   and procedures to be designed under our supervision, to ensure that material   information relating to the company, including its consolidated subsidiaries,   is made known to us by others within those entities, particularly during the   period in which this report is being prepared; |
|                             | b) | Evaluated   the effectiveness of the company’s disclosure controls and procedures and   presented in this report our conclusions about the effectiveness of the   disclosure controls and procedures, as of the end of the period covered by   this report based on such evaluation; and |
|                             | c) | Disclosed in   this report any change in the company’s internal control over financial   reporting that occurred during the period covered by the annual report that   has materially affected, or is reasonably likely to materially affect, the   company’s internal control over financial reporting; and |
| 5.                               | The company’s other certifying officer and I have disclosed, based onour most recent evaluation of internal control over financial reporting, to thecompany’s auditors and the Audit Committee of company’s Board ofDirectors (or persons performing the equivalent functions): |
|                             | a) | All   significant deficiencies or material weaknesses in the design or operation of   internal control over financial reporting which are reasonably likely to   adversely affect the company’s ability to record, process, summarize and   report financial information; and |
|                             | b) | Any fraud,   whether or not material, that involves management or other employees who have   a significant role in the company’s internal control over financial   reporting. |

June 22, 2005

| By:    | /s/ JAIME RIVERA          |   |
|--------|---------------------------|--------|
|   |                           |   |
|   | Jaime Rivera              |   |
|   |                      |   |
|   | *Chief Executive Officer* |   |