Back

Latin American Economy & Business - October 2016 (ISSN 1741-7430)

El Salvador: Pensions at the centre of fiscal deadlock

El Salvador appeared to be on the brink of a public-sector payments default for much of October, as the ruling left-wing Frente Farabundo Martí para la Liberación Nacional (FLMN) government ran out of money and the right-wing Alianza Republicana Nacionalista (ARENA), which has the largest number of seats in congress, refused to authorise further borrowing. The two parties have been trying to agree a fiscal responsibility pact; much of the fiscal problem is due to large unfunded pension liabilities.

End of preview - This article contains approximately 681 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.