El Salvador: Staff Report-Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for El Salvador
IMF Staff Country Reports, April 16, 2020
Source details
- Canonical URL
- El Salvador: Staff Report-Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for El Salvador
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Bibliographic details
- Published: April 16, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513540672.002
Overview
- This paper discusses El Salvador’s IMF Staff report on Request for Purchase Under the Rapid Financing Instrument (RCI).
- The RCI assistance is expected to help El Salvador direct funds swiftly to the country’s most affected sectors, including the healthcare system.
- The IMF continues to closely monitor El Salvador’s situation and stands ready to provide policy advice and further support as needed.
Public health and containment measures
- El Salvador has adopted strict measures to prevent and contain the pandemic since early February—even before the first case was diagnosed.
- Measures implemented include:
- travel restrictions,
- mandatory quarantine for exposed citizens,
- suspension of nonessential public and private sector operations,
- a nationwide shelter-in-place order.
Emergency economic measures and social support
- The authorities’ emergency response comprises measures to mitigate the economic impact of the pandemic on the population, including:
- targeted cash transfers to vulnerable households,
- tax relief in the most affected economic sectors.
Role and expected impact of IMF financing
- IMF financing will help preserve fiscal space.
- IMF financing is expected to catalyze significant funding from other multilateral institutions.
- The IMF stands ready to provide policy advice and further support as needed.
Content in this bundle
- 1slvea2020002