El Salvador: $250 Million for Economic Reactivation

CABEI approved a line of credit for the Salvadoran government to finance health care programs focused on mitigating the covid-19 outbreak and plans to reactivate the local economy.

Friday, August 28, 2020

Supporting macroeconomic stability, assisted by the Fiscal Responsibility Law, and strengthening the capacity to respond to the pandemic, through the programs that the government has implemented in response to the emergency, are two of the objectives that the loan approval is intended to fulfill.

A statement from the Central American Bank for Economic Integration (BCIE) explains that the other policies that will be tried to be strengthened through these resources are "...

  • Protecting vulnerable groups and employment by supporting actions aimed at maintaining people's income, and implementing measures to prevent violence.
  • Promoting economic reactivation through actions that support companies to restart operations and availability of resources to maintain current employment."

Dante Mossi, Executive President of CABEI, explained that "...the stimulus packages for the Covid-19 pandemic address the need to boost economies to accelerate investments to overcome the social and economic challenges of our member countries.

Check out the "System for monitoring markets and economic situation in the countries of Central America", developed by CentralAmericaData.

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Panama: $250 Million to Face Economic Crisis

November 2020

In the context of the economic crisis generated by the covid-19 outbreak, the CABEI approved a line of credit that the Panamanian government will use to finance the general state budget and programs for health protection, education and food security.

The Central American Bank for Economic Integration (CABEI) approved $250 million as part of the Development Policy Operations Program (DPO) to the Republic of Panama to financially support the country's economic recovery, the financial agency reported.

Costa Rica: $300 Million More Debt to Face the Crisis

July 2020

The Central American Bank for Economic Integration approved a line of credit for the country to reinforce its fiscal sustainability and strengthen its macroeconomic stability, in the context of the economic crisis that arose from the outbreak of covid-19.

In this way, Costa Rica becomes the first nation to receive the maximum amount of $250 million per year available for each country under the Development Policy Operations Program (DPO), reported the international organization.

Essential Structural Changes

May 2020

Costa Rican businessmen propose that given the economic crisis and the new normality that the country will face, the government should promote key strategies such as the sale of state assets, the transformation of public employment and the elimination of privileges in terms of pensions and salaries.

The Union of Chambers and Associations of the Private Business Sector (UCCAEP) presented to President Carlos Alvarado a document called "Pandemic Shock and Economic and Social Policies to Mitigate its Effects", which seeks to provide a way out of the health and economic crisis resulting from the outbreak of covid-19.

$515 Million Approved for Healthcare System

April 2020

The IMF approved a loan in favor of the Panamanian government, whose funds will be used to finance health expenses and support the vulnerable population affected by the covid.19

The International Monetary Fund (IMF) approved Panama's request for emergency financial assistance under the Rapid Financing Facility (RFF) of approximately $515 million to meet urgent balance of payments needs arising from the outbreak of the covid-19 pandemic, the international body reported.

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