El Salvador: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for El Salvador

International Monetary Fund

No 2025/067, IMF Staff Country Reports from International Monetary Fund

Abstract: Following a strong rebound in economic activity in 2021, real GDP is estimated to have expanded by 2.8 percent last year. Meanwhile, inflation jumped to 7¼ percent, and the current account deficit rose sharply partly reflecting higher commodity prices and despite a narrowing of the fiscal deficit. Reserve coverage has fallen further, sovereign spreads remain high, and financing options are limited, with continued reliance on expensive short-term borrowing. A pension reform was recently enacted aimed at increasing the generosity of benefits and mobilizing near-term financing but adding to the system’s structural weaknesses.

Keywords: State supplier; authorities of El Salvador; Policy discussion; money market rate; commodity shock; financing option; El Salvador's authorities; market risk supervision; government procurement; Anti-money laundering and combating the financing of terrorism (AML/CFT); Government finance statistics; International reserves; Global; Central America (search for similar items in EconPapers)
Pages: 98
Date: 2025-03-19
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