A. M. The Asociación Salvadoreña de Industriales (ASI) highlighted the importance of the US$1.4 billion financing agreement approved by the International Monetary Fund (IMF) for El Salvador. According to ASI, this support will contribute to macroeconomic stability, strengthen investor confidence, and establish solid foundations for sustainable growth in the medium and long term.
Jorge Arriaza, President of ASI, emphasized that this agreement represents a sign of confidence for industry and the national economy. He emphasized that maintaining balanced and sustainable public finances is key to attracting investment and strengthening the competitiveness of the productive sector, which in turn will boost the country’s economic development.
The financing, to be executed over a 40-month period, seeks to support the fiscal and economic reforms promoted by the Government. It will also strengthen international reserves and improve the country’s financing conditions in international markets, which will facilitate access to capital and reduce economic uncertainty.
The agreement with the IMF is based on three essential pillars: progressive fiscal consolidation to reduce the deficit and ensure debt sustainability, strengthening international reserves to improve financial stability, and structural reforms focused on modernizing the regulatory framework and improving transparency in financial management. These reforms include adjustments to Bitcoin legislation and measures to strengthen legal certainty.
ASI reaffirmed its commitment to collaborate with the government and the private sector to strengthen the industry and promote a competitive business environment. The organization highlighted the key role of the industrial sector in the economic recovery, driving innovation, modernization and generation of formal employment in the country.
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