A. M. 
Courtesy
Through its official web page, the Secretaría del Consejo Monetario Centroamericano (SECMCA), informed that between january 1 and may 31, 2024, payment transactions through the Sistema de Interconexión de Pagos (SIPA) amounted to US$108.6 million.
This system allows customers of affiliated banks and financial institutions to make electronic fund transfers in U.S. dollars between member countries, and has become a fast, secure, and low-cost tool for the region. The Central Banks of SECMCA member countries are responsible for internally defining the fee per transaction, thus adapting to the needs and policies of each country.
In this context, El Salvador stood out with a total of US$3,422,758 received through the SIPA during the reporting period. The transfers came from various countries in the region, including Costa Rica with US$26,000, Guatemala with US$994,354, Honduras with US$1,840,736, Nicaragua with US$606, and the Dominican Republic with US$169,517.
In addition to receiving funds, El Salvador has been an active sender of transfers through SIPA, with a total of US$66,804,704 sent to the countries of Central America and the Dominican Republic (CARD). This volume of transactions reflects the trust and efficiency that the system has gained among salvadoran users and their counterparts in the region.
The growing use of SIPA not only facilitates trade and financial relations among member countries, but also contributes to economic integration and regional monetary stability.
