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

Author/Editor:

International Monetary Fund

Publication Date:

February 24, 2009

Electronic Access:

Free Full text (PDF file size is 837 KB).Use the free Adobe Acrobat Reader to view this PDF file

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.

Series:

Country Report No. 09/71

Subject:

English

Publication Date:

February 24, 2009

ISBN/ISSN:

9781451834796/1934-7685

Stock No:

1SLVEA2009002

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

52

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