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

February 24, 2009

Preview Citation

Format: Chicago

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, (USA: International Monetary Fund, 2009) accessed November 23, 2024

Summary

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.

Subject: Banking, Commercial banks, Credit, Economic sectors, External debt, Financial institutions, Money, Public debt, Public sector

Keywords: Commercial banks, CR, Credit, El Salvador's outlook, Fund, Global, IMF staff representative, Infrastructure investment, Investment in infrastructure, ISCR, Public sector, Sound fiscal policy, Staff appraisal

Publication Details

Pages:

52
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/071
Stock No:

1SLVEA2009002
ISBN:

9781451834796
ISSN:

1934-7685

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