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Economy & Business - June 2004
EL SALVADOR: Saca gets FMLN support for budget
After nine months of deadlock, El Salvador's legislative assembly finally approved the 2004 budget on 17 June. That it was passed at all is testament to the consensus-building efforts of President Tony Saca, who only assumed power on 1 June. Only the day before the budget was approved, the leftwing opposition Frente Farabundo Martí para la Liberación Nacional (FMLN) had walked out of congress before it approved a pension reform which ended the mandatory right to a pension after 30 years of service. Now pensions will only be paid to men at 60 and women at 55. The reform is designed to save US$100m over the next five years.
- Better than forecast
- What's happening in 2004?
- Finance minister raises growth forecast
- BRAZIL: Government asserts itself
- ARGENTINA: Recovery on again
- CHILE: Corbo sticks to low interest rate policy
- PARAGUAY: IMF criticises breaks for business
- URUGUAY: Recovery gathers strength
- BOLIVIA: Optimism from central bank
- VENEZUELA: Braced for the referendum
- COLOMBIA: Steady
- ECUADOR: Oil exports jump
- PERU: Economy re-rated
- COSTA RICA: Fiscal reform finally approved
- CUBA: Sol Melía raises profits by 27%
- DOMINICAN REPUBLIC: AES calls government's bluff
- EL SALVADOR: Saca gets FMLN support for budget
- GUATEMALA: Fiscal compromise to cost at least Q1bn
- HONDURAS: Good harvest
- NICARAGUA: Inflation jumps
- PANAMA: Blockages
- PRIVATISATION: Congress alleges oil privatisation in Mexico
- BUSINESS: CVRD looks north
- USDA optimism at odds with local figures
- METALS: Chile's copper exports double, but prices stable
- COMMODITIES BRIEF
- ARGENTINA: Bondholders ask for more