IMF Staff Country Reports

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

March 19, 2025

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Format: Chicago

International Monetary Fund. Western Hemisphere Dept. "El Salvador: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for El Salvador", IMF Staff Country Reports 2025, 067 (2025), accessed March 20, 2025, https://doi.org/10.5089/9798229004220.002

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Summary

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.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Central Banks, Crime, Currencies, Economic sectors, Expenditure, Financial sector policy and analysis, Financial sector stability, International reserves, Monetary policy, Money, Pension spending, Public debt, Public sector, Reserve requirements

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Currencies, External debt, Financial regulation and supervision, Financial sector stability, International reserves, Pension spending, Public sector, Reserve requirements

Publication Details

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