Salvadoran Economy to grow 2.6% in 2009 according to IMF

The International Monetary Fund forecasts that the Salvadoran economy will grow 2.6% in 2009, the lowest in 5 years.

Thursday, October 23, 2008

In the update for this month's report of "Global Economic Perspectives 2008" the Fund projects that the GDP of El Salvador will grow 3% this year and 2.6% in 2009, the lowest in 5 years.

The Government of El Salvador has cut its growth projections for the economic for this year to a range of 3.5% to 4% of the GDP. Projections by the Ministry of Finance for 2009 are for growth between 3% and 4%.

According to the IMF, the isthmus on a whole grew 6.6% in 2007, but it only grew 4.6% in 2008 and would grow 4.2% in 2009.

The report highlights that CA is closely linked to the US economy and that the effects could come by several means: "Remittances to El Salvador have also slowed significantly, but not as much as in Mexico."

More on this topic

Panama to Grow 5.6% in 2016

October 2016

The government plans to close the year with growth of 5.6% in GDP, and estimates and an increase of 6.3% for 2017.

From a statement issued by the Ministry of Economy and Finance: 

Panama's economy continues to grow strongly and steadily, in the context of low inflation, low unemployment and good fiscal performance. 

Costa Rica As Seen by the IMF in March 2013

March 2013

Overall, the economic outlook is positive, but there are risks from external uncertainties and domestic policy challenges.

From Public Information Notice No. 13/25 by the International Monetary Fund (IMF):

On February 22, 2013, the Executive Board of the International Monetary Fund (IMF) concluded a consultation on Article IV with Costa Rica.

Guatemalan economy will experience less growth

October 2008

The IMF expects a reduction in the growth of the local economy. It is no longer expected to be 4.3% but 4% due to the global financial crisis.

The negative effects of the crisis may start to be felt in the next few months, since this year the economy will not grow to 4.3% of the GDP as would previously expected, said Minister of Finance, Juan Alberto Fuentes Knight.

El Salvador's GDP grows by 4.2%

August 2008

The Salvadoran economy showed signs of resistance to the international crisis during the first trimester of 2008.

As of March, the GDP grew by 4.2%, according to the Central Reserve Bank (BCR). The Monthly Index of Economic Activity (MIEA) grew by 3.6% in May, according to the BCR, which kept its growth projections at 4% for 2008.

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