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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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 April 25, 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, Economic and financial statistics, Government finance statistics, International reserves, Public debt

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Authorities of El Salvador, Central America, Commodity shock, El Salvador's authorities, Financing option, Global, Government finance statistics, Government procurement, International reserves, Market risk supervision, Money market rate, Policy discussion, State supplier

Publication Details

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