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El Salvador: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for El Salvador

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  • International Monetary Fund

Abstract

Following a strong rebound in economic activity in 2021, real GDP is estimated to have expanded by 2.8 percent last year. Meanwhile, inflation jumped to 7¼ percent, and the current account deficit rose sharply partly reflecting higher commodity prices and despite a narrowing of the fiscal deficit. Reserve coverage has fallen further, sovereign spreads remain high, and financing options are limited, with continued reliance on expensive short-term borrowing. A pension reform was recently enacted aimed at increasing the generosity of benefits and mobilizing near-term financing but adding to the system’s structural weaknesses.

Suggested Citation

  • International Monetary Fund, 2025. "El Salvador: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for El Salvador," IMF Staff Country Reports 2025/067, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2025/067
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=565389
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