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Weekly Report - 06 October 2016 (WR-16-39)
EL SALVADOR: Spectre of default looms
El Salvador faces the very real risk of a default unless the country’s two main political parties can set aside their differences and forge a fiscal pact. This was the message from a visiting delegation of the International Monetary Fund (IMF) last week. President Salvador Sánchez Cerén arranged a meeting on 4 October with the principal opposition party, the right-wing Alianza Republicana Nacionalista (Arena), and other political parties to discuss measures to address the country’s fiscal crisis. But reaching a settlement will be challenging. Mutual accusations are flying between officials from the ruling left-wing Frente Farabundo Martí para la Liberación Nacional (FMLN) and Arena politicians.
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