News Brief: IMF's Köhler Welcomes El Salvador Plan

November 23, 2000

The Managing Director of the International Monetary Fund (IMF), Horst Köhler, today made the following statement:

"The government of El Salvador has sent to its national assembly legislation that would make the U. S. dollar legal tender, as part of its ongoing efforts to strengthen the country's economic policy framework. This plan, if accompanied by the proposed fiscal measures now being considered by the assembly and by continued efforts to improve banking supervision, would build on El Salvador's solid track record of economic reforms and promote more rapid economic growth. Based on this set of measures, Fund management is willing to begin discussions with the government on a new economic program that could be supported by the Fund."


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