El Salvador: 2007 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for El Salvador

International Monetary Fund

No 2008/101, IMF Staff Country Reports from International Monetary Fund

Abstract: In 2007, imports of consumer, intermediate, and capital goods grew at annual rates slightly exceeding 10 percent. Export growth lagged behind that of imports, as buoyant nontraditional exports, rising at a 16 percent annual rate, were offset by stagnant exports of the maquila sector. In particular, the discussions centered on (i) spillovers from the United States to El Salvador and the associated risks; (ii) the short-term fiscal stance and its consistency with medium-term fiscal objectives; and (iii) the internationalization of the Salvadoran banking system.

Keywords: ISCR; CR; deficit; sound investment environment; economy; reform; El Salvador's authorities; banking systems profitability; IMF staff estimate; reform leader; Public sector; Commercial banks; Central America; Global (search for similar items in EconPapers)
Pages: 38
Date: 2008-03-14
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