High debt and slow economic growth continue, although only slightly higher than in 2014, due to the fall in oil prices.
From a statement issued by the Salvadoran Foundation for Development (FUSADES):
The third quarter of 2015 continued to show slow growth, but slightly higher than in 2014, due to the fall in oil prices. Low growth translates into few jobs, which together with the increases in food prices, adversely affects poverty.
Report of Costa Rica´s performance, through the selection, measurement and evaluation of a set of variables that include social, economic, environmental and political aspects of development.
Overview of the State of the Nation Report 2015:
In the past five years, the State of the Nation has warned about the severity of the problems that threaten the sustainability of human development, the political system's inability to find answers and the need to correct the country's course. Therefore, in 2011 it was stated that behind the political and economic stability a wearing down of Costa Rica's historical progress could be detected. In 2012 the absence of solid progress was noted and in 2013, the existence of myths about the "country we are," which led to do the same actions being repeated with different results expected. Last year, the Twentieth Report stated that it was the end of an era and the political system was being called on to lead the transition with minimal confrontation and costs for the weaker groups.
Costa Rica is the one of the best examples of what happens when obstacles like the coming and going between state paternalism and trade affect the social and economic development.
While receiving an award from the National Association for Economic Development for Freedom (ANFE) 2014, Juan Carlos Hidalgo gave a stark analysis of the Costa Rican situation, which highlights the apparent contradictions between sustained economic growth and the painful reality of growing poverty.
Former Presidents of the Central Bank of Costa Rica have criticized the bill which sets two equal objectives for the institution: inflation control and boosting production.
They agree that the Central Bank has shown that it does, but remain unconvinced that an expansionary monetary policy can be implemented to boost production indefinitely. Also, the experts believe that although both goals have similar weight, priority is always given to one over the other.
Salvadoran businessmen have pointed out that the agreement which intended to stimulate the economy and overcome obstacles to growth, has not provide great results.
Although it is more than a year since implementation of the agreement, the private sector finds it necessary to involve private enterprise more in order for the government to generate better policies to attract investment.
Both governments formalized the launch of the program 'Partnership for Growth' (Asocio Para el Crecimiento in Spanish), which aims to promote sustainable growth in the Salvadoran economy and will be implemented over the next five years.
In order to boost investment, it will seek to strengthen the capacity of the Investment Promotion Agency (PROESA in Spanish), to make the process easier and to improve the business climate.
“Program implementation has been strong, despite challenging external conditions and a slow economic recovery. The public debt-to-GDP ratio has stabilized, and financial stability has been maintained."
IMF Executive Board Approves US$790 Million Stand-By Arrangement for El Salvador
Press Release No. 10/95
March 17, 2010
The Executive Board of the International Monetary Fund (IMF) today approved a 36-month, SDR 513.9 million (about US$790 million) Stand-By Arrangement (SBA) for El Salvador to help the country mitigate the adverse effects of the global crisis. The new arrangement, which the authorities intend to treat as precautionary, will succeed the 15-month SBA approved on January 16, 2009 (see Press Release No. 09/10).
Beyond appearances and the sense of belonging in Latin America, there are at least two Latin Americas when it comes to culture, politics and economy.
The establishment of democracy in the new Latin America is a vital metamorphosis that for a long time was not expected. Is its a historical refutation of those ideologists who condemn some nations to despotism in name of some not so well known cultural differentiation? It is also a refutation of those ultra-liberals in Latin America, wayward disciples of Milton Friedman who for a long time preferred the "illustrated despotism" of the generals in order to get to the market economy: Pinochetism is now presented as a local accident, not as a need.
The country's 2007-2008 Human Development Report will be presented today by the United Nations Development Program (UNDP).
Slight economic growth in the country between 1980 and 2007 and unresolved social problems involving inequality and poverty "demonstrate how the Guatemalan economic model has failed", the Report states.
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Panamá Pacífico with thousands of interested visitors to its stand in Expocomer 2010, not only offered the Key Note speech of thursday, but launched the residential phase of this great development on the banks of the Panama Canal