Advanced Search

LatinNews Daily - 20 June 2019

Click here for printer friendly version
Click here for full report

In brief: El Salvador

* The Inter-American Development Bank (IDB) has approved a US$200m loan to the Salvadorean government to help finance El Salvador’s 2019 general state budget. The loan has a repayment period of 20 years, a five year and half year grace period, and an interest rate based on Libor. According to an IBD press release El Salvador’s government hopes that this support from the IDB will strength its fiscal position. The press release also notes that the government has already acted to improve its fiscal standing, such as its active commitment to implement necessary structural actions and reforms to fortify the fiscal management, with important focus on public spending and pension sustainability. The Salvadorean government also implemented measures to improve the institutional capacity for tax collection and increase the international transparency.