New Code of Civil and Commercial Procedure in El Salvador

The main changes in the code are oral hearings, and the requirement for judges to speed up the process or risk facing a monetary fine.

Tuesday, December 2, 2008

President Elias Antonio Saca, along with authorities from the Supreme Court presented the new Code of Civil and Commercial Procedure which will come into effect in 2010.

The Legislative Assembly approved the new code last September 18.

More on this topic

The Economist holds investment forum in El Salvador

September 2008

The British magazine will hold an event on September 11 along with companies such as TACA, SAB Miller and Wal-Mart.

The event is called "El Salvador, investment and business destination: opportunities and challenges," and will cover topics such as perspectives of El Salvador as a tourist destination and the country as a regional platform for services.

Costa Rica's banks approve new self-regulating code

July 2008

Banks and others in Costa Rica who use the Internet to make financial transactions will soon have a new weapon to fight electronic fraud.

It is the Self-Regulation Code of Good Banking Practicies, which is being proposed by the Chamber of Banking and Financial Institutions of Costa Rica.

Hesmahán takes over as economy minister in El Salvador

June 2008

Ricardo Hesmahán has taken over from Yolanda Mayora as economy minister of El Salvador. Mayora resigned to take up the post of secretary-general of the Secretariat for the Economic Integration of Central America (SIECA).

Hesmahán, a businessman, was sworn in by President Elías Antonio Saca. Since late 2003, Hesmahán had been president of El Salvador's National Chamber of Farming and Agri-business (Camagro).

El Salvador's GDP per person surges to US$3,574

May 2008

El Salvador's GDP per inhabitant rose to US$3,574 last year, largely because the population turned out to be smaller than expected.

The nation's GDP in 2007 came to US$20.37 billion, and the population was estimated by the census at 5.7 million.
The new figure for GDP per inhabitant brings El Salvador to within US$22 of being classified as a nation of medium to high personal income.

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