El Salvador: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for El Salvador

January 28, 2022

Summary

The pandemic interrupted ten years of growth, but El Salvador is rebounding quickly. Robust external demand, resilient remittances, and a sound management of the pandemic—with the help of a disbursement under the Rapid Financing Instrument (RFI) (SDR287.2 million or US$389 million) approved in April 2020—are supporting a strong recovery. Persistent fiscal deficits and high debt service are leading to large and increasing gross fiscal financing needs.

Subject: Balance of payments, Central banks, Currencies, International organization, International reserves, Monetary policy, Money, Public debt, Remittances, Technology, Virtual currencies

Keywords: anti-smuggling plan, authorities of El Salvador, authorities' estimate, Caribbean, Central America, Currencies, El Salvador's authorities, Global, government finance statistics manual, International reserves, Remittances, Salvadorian authorities, Virtual currencies

Pages:
114
Volume:
2022
DOI:
https://doi.org/10.5089/9798400200151.002
Issue:
020
Series:
Country Report No. 2022/020
Stock No:
1SLVEA2022001
ISBN:
9798400200151
ISSN:
1934-7685

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