Executive Board
Calendar
Board Discussions
on El Salvador:

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May 20, 2013
September 30, 2011
September 15, 2010
March 17, 2010
January 16, 2009

Article IV Staff Reports

Financial Sector Assessment Program

Projected % Change
   2014  2015
Real GDP 1.6 1.7
Consumer Prices 1.8 2.6
Source: World Economic Outlook (April 2014)
Please refer to more recent PIN/Staff reports on this country for possible revisions.

El Salvador: Financial Position in the Fund

Transactions with the Fund


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El Salvador and the IMF
Updated February 11, 2014

The last Article IV Executive Board Consultation was on May 20, 2013. Listed below are items related to El Salvador, in reverse chronological order (you can also view items by category).

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February 11, 2014 -- El Salvador: Financial System Stability Assessment
Series: Country Report No. 14/44
February 11, 2014 -- El Salvador: Detailed Assessment of Compliance of the Basel Core Principles for Effective Banking Supervision
Series: Country Report No. 14/45
February 11, 2014 -- El Salvador: Technical Note on Safety Nets and Crisis Management Arrangements
Series: Country Report No. 14/46
October 12, 2013 -- IMFC Statement by Luis de Guindos, Minister of Finance and Competitiveness of Spain
On behalf of: Colombia, Costa Rica, Spain, Guatemala, Honduras, Mexico, El Salvador, Rep├║blica Bolivariana de Venezuela. PDF File Size: 218Kb
May 22, 2013 -- Public Information Notice: IMF Executive Board Concludes 2013 Article IV Consultation with El Salvador
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
May 22, 2013 -- El Salvador: 2013 Article IV Consultation
Series: Country Report No. 13/132
Notes: Also Available in Spanish
March 19, 2013 -- Press Release: Statement by an IMF Mission on the 2013 Article IV Consultation to El Salvador
October 13, 2012 -- IMFC Statement by Luis de Guindos, Governor for Spain
On behalf of: Costa Rica, Spain, Guatemala, Honduras, Mexico, Nicaragua, El Salvador, Rep├║blica Bolivariana de Venezuela. PDF File Size: 428Kb
May 29, 2012 -- Press Release: Statement by the IMF Mission to El Salvador
February 17, 2012 -- Press Release: Statement by the IMF Mission to El Salvador
December 01, 2011 -- Developments in Financial Supervision and the Use of Macroprudential Measures in Central America
Author/Editor: Delgado, Fernando L | Meza, Mynor
Series: Working Paper No. 11/299
October 12, 2011 -- El Salvador; Third Review under the stand-by arrangement - Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director.
Series: Country Report No. 11/306
September 30, 2011 -- Press Release: IMF Completes Third Review of El Salvador’s Stand-By Arrangement
September 13, 2011 -- El Salvador -- Letter of Intent, September 13, 2011
PDF File Size: 368Kb
August 18, 2011 -- Press Release: Statement by the IMF Mission to El Salvador
June 28, 2011 -- El Salvador: Report on Observance of Standards and Codes - Fiscal Transparency Module
Series: Country Report No. 11/147
June 01, 2011 -- Official Dollarization as a Monetary Regime: Its Effects on El Salvador
Author/Editor: Swiston, Andrew
Series: Working Paper No. 11/129
May 23, 2011 -- Press Release: Statement by an IMF Staff Mission to El Salvador
April 19, 2011 -- El Salvador: Second Review Under the Stand-By Arrangement-Staff Report; Informational Annex; Press Release
Series: Country Report No. 11/90
March 31, 2011 -- Press Release: IMF Completes Second Review Under Stand-By Arrangement for El Salvador
March 17, 2011 -- El Salvador -- Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, March 17, 2011
PDF File Size: 612Kb
February 11, 2011 -- Press Release: IMF Mission and Salvadoran Authorities Reach Agreement on an Economic Program for 2011 in the Context of the Stand-By Arrangement
October 13, 2010 -- El Salvador: 2010 Article IV Consultation and First Review Under the Stand-By Arrangement - Staff Report; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for El Salvador
Series: Country Report No. 10/307
September 30, 2010 -- EL Salvador: Ex Post Evaluation of Exceptional Access Under the 2009 Stand-By Arrangement
Series: Country Report No. 10/303
September 23, 2010 -- Public Information Notice: IMF Executive Board Concludes 2010 Article IV Consultation with El Salvador
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
September 20, 2010 -- Press Release: IMF Executive Board Concludes First Review of El Salvador’s Stand-By Arrangement
September 01, 2010 -- El Salvador -- Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, September 01, 2010
PDF File Size: 618Kb
March 26, 2010 -- El Salvador: Request for a Stand-By Arrangement and Cancellation of Current Arrangement - Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for El Salvador
Series: Country Report No. 10/82
March 17, 2010 -- Press Release: IMF Executive Board Approves US$790 Million Stand-By Arrangement for El Salvador
March 01, 2010 -- El Salvador -- Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, March 01, 2010
PDF File Size: 394Kb
September 24, 2009 -- Press Release: IMF Announces Staff-Level Agreement with El Salvador for a New Stand-by Arrangement of About US$ 800 Million
May 27, 2009 -- Press Release: Statement by an IMF Mission to El Salvador
February 24, 2009 -- 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
Series: Country Report No. 09/71
February 12, 2009 -- IMF Survey: Latin America Can Minimize Crisis Impact
Latin American countries should do more to limit the impact of the crisis, and some may request financial assistance from the International Monetary Fund, the IMF's new Western Hemisphere Department Director Nicolas Eyzaguirre says in an interview.
February 03, 2009 -- El Salvador: 2008 Article IV Consultation - Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for El Salvador
Series: Country Report No. 09/35
January 16, 2009 -- Press Release: IMF Executive Board Approves Precautionary Stand-By Arrangement for El Salvador of About $800 Million
January 16, 2009 -- IMF Survey: IMF Makes $800 Million Available to El Salvador
In an interview, the IMF's mission chief for El Salvador, Alfred Schipke, talks about the impact of the global financial crisis on El Salvador, the precautionary nature of the economic program, and the challenges surrounding the future of the country's economic policies.
January 07, 2009 -- El Salvador -- Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, January 07, 2009
PDF File Size: 476Kb
December 31, 2008 -- Public Information Notice: IMF Executive Board Concludes 2008 Article IV Consultation with El Salvador
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
December 23, 2008 -- IMF Survey: El Salvador Seeks Precautionary Arrangement from IMF
El Salvador and IMF staff agree in principle on an $800 million IMF arrangement that the country does not intend to draw on, but to hold on a precautionary basis. The IMF says the global financial turmoil has tightened financing conditions.
December 22, 2008 -- Press Release: IMF Announces Staff-Level Agreement with El Salvador on Financial Support of About US$800 Million
September 12, 2008 -- Press Release: IMF Staff Statement on the 2008 Article IV Consultation with El Salvador
May 16, 2008 -- Press Release: IMF Staff Statement at the Conclusion of a Visit to San Salvador, El Salvador
March 14, 2008 -- Public Information Notice: IMF Executive Board Concludes 2007 Article IV Consultation with El Salvador
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
March 14, 2008 -- El Salvador: 2007 Article IV Consultation - Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for El Salvador
Series: Country Report No. 08/101
February 01, 2008 -- Central America's Regional Trends and U.S. Cycles
Author/Editor: Roache, Shaun K.
Series: Working Paper No. 08/50
December 01, 2007 -- Equity and Private Debt Markets in Central America, Panama, and the Dominican Republic
Author/Editor: Shah, Hemant | Carvajal, Ana | Bannister, Geoffrey J. | Chan-Lau, Jorge A. | Guerra, Ivan
Series: Working Paper No. 07/288
October 05, 2007 -- Press Release: IMF Staff Statement on the 2007 Article IV Consultation with El Salvador
June 01, 2007 -- Public Debt Markets in Central America, Panama, and the Dominican Republic
Author/Editor: Shah, Hemant | Jobst, Andreas | Valderrama, Laura | Guerra, Ivan
Series: Working Paper No. 07/147
March 13, 2007 -- Press Release: Statement by IMF Mission to El Salvador
November 22, 2006 -- El Salvador: 2006 Article IV Consultation - Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for El Salvador
Series: Country Report No. 06/410
November 01, 2006 -- What Do Remittances Do? Analyzing the Private Remittance Transmission Mechanism in El Salvador
Author/Editor: Nery Saca, Nolvia | Cáceres, Luis René
Series: Working Paper No. 06/250
August 21, 2006 -- IMF Survey:
U.S. fiscal outlook; U.S. inflation dynamics; Ireland, FYR Macedonia, El Salvador, Uruguay briefs; Egypt: growth and reform; Canadian female labor participation; EU: Stability and Growth Pact; Suspension of Doha talks; challenges of globalization PDF File Size: 654Kb
July 31, 2006 -- Public Information Notice: IMF Executive Board Concludes 2006 Article IV Consultation with El Salvador
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
May 22, 2006 -- Press Release: Statement by an IMF Mission to El Salvador
December 11, 2005 -- Press Release: Statement by an IMF Mission to El Salvador
August 09, 2005 -- El Salvador: Selected Issues - Background Notes
Series: Country Report No. 05/270
August 09, 2005 -- El Salvador: 2004 Article IV Consultation - Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for El Salvador
Series: Country Report No. 05/271
July 08, 2005 -- Press Release: Statement by IMF Deputy Managing Director Agustín Carstens at the Conclusion of a Visit to El Salvador
March 07, 2005 -- IMF Survey:
De Rato in Maghreb; Afghanistan; El Salvador; Comoros; Finland; IEO releases report on technical assistance; Institutions and economic growth; Central bank transparency; Postconflict experience in sub-Saharan Africa; Monetary policy implementation. PDF File Size: 374Kb
March 01, 2005 -- El Salvador: Report on the Observance of Standards and Codes--Fiscal Transparency Module
Series: Country Report No. 05/67
February 14, 2005 -- Public Information Notice: IMF Executive Board Concludes 2004 Article IV Consultation with El Salvador
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
December 31, 2004 -- El Salvador: Report on the Observance of Standards and Codes -- Data Module, Response by the Authorities, and Detailed Assessments Using the Data Quality Assessment Framework
Series: Country Report No. 04/409
November 10, 2004 -- Press Release: IMF Mission Statement at the Conclusion of the 2004 Article IV Consultation Discussions with El Salvador
December 22, 2003 -- Public Information Notice: IMF Concludes 2003 Article IV Consultation with El Salvador
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
October 01, 2003 -- Financial Integration in Central America: Prospects and Adjustment Needs
Author/Editor: Canales Kriljenko, Jorge Iván | Khandelwal, Padamja | Lehmann, Alexander
Series: Policy Discussion Paper No. 03/3
July 22, 2003 -- Press Release: IMF Managing Director's Visit to El Salvador
March 01, 2003 -- Determinants of the Choice of Exchange Rate Regimes in Six Central American Countries: An Empirical Analysis
Author/Editor: Papaioannou, Michael G.
Series: Working Paper No. 03/59
December 01, 2002 -- Central American Tax Reform: Trends and Possibilities
Author/Editor: Stotsky, Janet Gale | WoldeMariam, Asegedech
Series: Working Paper No. 02/227
November 01, 2002 -- Expenditure Issues and Governance in Central America
Author/Editor: Corbacho, Ana | Davoodi, Hamid Reza
Series: Working Paper No. 02/187
April 20, 2002 -- Statement by Mr. Rodrigo de Rato, Second Vicepresident and Minister of Economy of Spain to the IMFC, Washington, D. C., April, 2002
The International Monetary and Financial Committee statement on behalf of the constituency comprising Costa Rica, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Spain, Venezuela
November 17, 2001 -- Statement by Mr. Francisco Gil Díaz, Minister of Finance and Public Credit of Mexico, to the International Monetary and Financial Committee, Washington, D. C., November 17, 2001
The International Monetary and Financial Committee statement on behalf of the constituency comprising Costa Rica, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Spain, Venezuela
January 06, 2001 -- Exchange Rate Regimes: Is the Bipolar View Correct? -- Address by Stanley Fischer
Prepared for delivery as the Distinguished Lecture on Economics in Government, jointly sponsored by the American Economic Association and the Society of Government Economists, at the meetings of the American Economic Association, New Orleans
November 23, 2000 -- News Brief: IMF's Köhler Welcomes El Salvador Plan
January 04, 2000 -- El Salvador: Statistical Annex
Series: IMF Staff Country Report No. 99/145
November 15, 1999 -- Public Information Notice: IMF Concludes Article IV Consultation with El Salvador
Public Information Notices (PINs) form part of the IMF's efforts to promote transparency of the IMF's views and analysis of economic developments and policies.
September 26, 1999 -- Statement by Mr. Antonio Casas Gonzalez,Governor of the Bank of Venezuela, Fifty-Third Meeting of the IMF Interim Committee
The Interim Committee member for the constituency consisting of Costa Rica, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Spain and Venezuela
September 24, 1998 -- Press Release: IMF Approves Stand-By Credit for El Salvador
July 01, 1998 -- Determinants of Growth in an Error-Correction Model for El Salvador
Author/Editor: Méndez Morales, Armando
Series: Working Paper No. 98/104
June 01, 1998 -- A Model for Financial Programming
Author/Editor: Mikkelsen, Jan Giehm
Series: Working Paper No. 98/80
May 29, 1998 -- El Salvador Recent Economic Developments
Series: IMF Staff Country Report No. 98/32
April 06, 1998 -- Press Information Notice: IMF Concludes Article IV Consultation with El Salvador
Public Information Notices (PINs) form part of the IMF's efforts to promote transparency of the IMF's views and analysis of economic developments and policies.
September 23, 1997 -- Statement by the Hon. Carlos A. Massad, Governor of the World Bank and the Fund for Chile on behalf of the Latin American Governors of the Fund, at the Joint Annual Discussion.
PDF File Size: 34Kb
March 03, 1997 -- Press Release: IMF Approves Stand-By Credit for El Salvador
June 18, 1996 -- El Salvador - Statistical Appendix
Series: IMF Staff Country Report No. 96/39
Notes: This report was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.
July 21, 1995 -- Press Release: IMF Approves Stand-by Credit for El Salvador
March 15, 1994 -- El Salvador - Recent Economic Developments
Series: IMF Staff Country Report No. 94/10
Notes: This report on recent economic developments in El Salvador was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.

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