The International Monetary Fund (IMF) concluded the consultation of article IV for El Salvador in 2025 and completed the first review of the agreement in force under the expanded IMF service (SAF), which will allow the immediate disbursement of approximately 118 million dollars. With this new contribution, the country accumulates about 231 million received within the program approved in February for a total of $ 1.4 billion.
The IMF Executive Directory praised the commitment of the Salvadoran authorities with the economic program and highlighted the satisfactory results achieved to date. According to the agency, the national economy maintains growth signals, with moderate inflation and reduction in the current account deficit.
Nigel Clarke, deputy manager and interim president of the IMF, highlighted the advances in fiscal consolidation, strengthening of international reserves and key reforms in governance and transparency. Among the achievements indicated are the promulgation of the Fiscal Sustainability Law, improvements in the regulation of public procurement, greater access to state financial information and transparency in public contracts.
The agency also recognized efforts in institutional improvement and public project management, which will facilitate a more efficient execution of infrastructure investments, key to accelerating economic growth in the coming years.
However, the IMF warned that El Salvador faces challenges, such as the need to reduce current spending, especially salary mass in the public sector, and advance reforms to the pension system to ensure tax sustainability and release resources for social investment.
The Board of Directors stressed the importance of strengthening public finances to protect social spending and guarantee the financing of strategic projects, in addition to continuing to mobilize international financial support to reduce dependence on the local banking system and expand access to the private sector credit.
In financial matters, the IMF said that the Salvadoran banking system remains solid, but recommended increasing liquidity reserves and strengthening the supervision of non -banking banks and financial institutions to preserve system stability.
Finally, the report valued the long -term growth strategy promoted by El Salvador, which seeks to attract foreign investment, enhance exports and generate employment. The IMF encouraged the country to continue implementing structural reforms, improving productivity, closing gaps in infrastructure and human capital, and promoting collaboration with the private sector.
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