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
Electronic Access:
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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. 2009/071
Subject:
Banking Commercial banks Credit Economic sectors External debt Financial institutions Money Public debt Public sector
English
Publication Date:
February 24, 2009
ISBN/ISSN:
9781451834796/1934-7685
Stock No:
1SLVEA2009002
Pages:
52
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