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Caribbean & Central America - September 2018 (ISSN 1741-4458)

Economic Highlights

NORTHERN TRIANGLE | El Salvador joins customs union. On 20 August El Salvador officially joined the customs union with Honduras and Guatemala which was created in 2017. With El Salvador’s adhesion, the customs union will have 48% of the sub-region’s GDP and 69% of Central America’s intraregional exports, creating a potential market of 32m Central Americans and positioning El Salvador, Guatemala, and Honduras as Latin America’s eighth-largest economy. Also on 20 August the executive president of the Central American Bank of Economic Integration (Cabei) Nick Rischbieth announced the bank had authorised US$1.5m more to strengthen the customs union following an initial US$1.5m provided when the customs union was launched.

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