A statement from the National Association of Private Enterprise (ANEP) reads:

COUNTRY RISK IN LAST YEAR OF GOVERNMENT

CURRENT REALITY

The Salvadoran economy is growing less and less. Between 2010-2012, real per capita growth was just over 1%. This can not be justified as a result of the international crisis, because the American economy and the world economy grew by 4.4% and 3.9% respectively over the same period. Of all the countries in Latin America El Salvador had the least amount of growth between 2010 and 2014.

This has been the result of an atmosphere that has created uncertainty for investors:
- Permanent attacks on democratic institutions
- Bad decisions in public administration, including the adoption of laws that discourage investment, excessive bureaucracy in public institutions, lack of enforcement of contracts by the State.
- Accelerated deterioration in competitiveness, steady loss of positions in international indicators such as: Global Competitiveness Index, Human Development Index, Doing Business, Degrees of Economic Freedom, and the index of Corruption Perception
- An unprecedented fiscal crisis. Even with 10% growth in annual tax revenues from 2010 to 2012, the fiscal deficit was higher than 4.3% per annum over the same period. Current expenditure is more than 18% of GDP.
- Legal uncertainty and Lack of Safety for Citizens
- Political instability before the 2014 presidential election

More on this topic

Investment in Nicaragua: Is it Possible to Restore Confidence?

November 2019

Strengthening government institutions in the areas of contract enforcement, property rights protection and investor protection are part of the recommendations made by the IMF in its most recent visit to the country.

According to the international organization, policies to regain the confidence of the private sector, including a frank assessment of the impact of recent measures, are essential to promote economic recovery and compensate for increased poverty. In the short term, strengthening government institutions in the areas of contract enforcement and efficiency of the legal framework for dispute resolution, protection of property rights, investor protection, property registration, and insolvency resolution could significantly improve the country's competitiveness.

Costa Rica: More Warnings Over Fiscal Deficit

February 2018

Lack of fiscal reform continues to erode Costa Rica's public finances, constraining its long-term growth prospects and highlighting its vulnerability to external shocks.

From a press release by Standard & Poor's.

IMF: Time is running out for Costa Rica

March 2016

The institution is once again emphasizing more efficient public spending and making cuts before a fiscal adjustment comes into force, in a form that is "draconian and with emergency measures".

Making cuts and improving efficiency in public spending is once again the main recommendation of the International Monetary Fund.

Nicaragua Praised by the IMF

February 2016

The IMF noted the positive evolution of all the country's economic indicators, and the drastic fall in poverty, with an increase of 33% in per capita consumption.

From a press release issued by the IMF:

On January 28, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Nicaragua.