El Salvador : Request for Stand-By Arrangement: Staff Report; Staff Supplement and Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for El Salvador

1SLVEA2009002 Image
Price:  $18.00

Release Date: © February, 2009
ISBN : 978-1-45183-479-6
Stock #: 1SLVEA2009002
Stock Status: On back-order

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The staff report for El Salvador’s request for a Stand-By Arrangement is examined. Fiscal consolidation led to a reduction in the public debt-to-GDP ratio, and the country has experienced the highest growth rates in a decade. Real GDP growth is projected to slow to 3.2 percent in 2008, reflecting lower growth in remittances, a tightening of external financing conditions, and a decline in investment. Exports, however, have remained buoyant despite weaker external demand. The banking system remains liquid and well capitalized, although nonperforming loans have increased and profitability is declining.


Balance of payments , Economic policy , Political economy

More publications in this series: IMF Staff Country Reports