El Salvador presents Economic Development Plan
In mid-October, an important meeting was held between senior officials of the Salvadoran government and the U.S. Treasury Secretariat at the U.S. government house in Washington, D.C., where an economic development plan for the Central American country was presented.
The Ministers of Finance of Mexico, Honduras, Guatemala and El Salvador participated in this meeting. The President of the Central Reserve Bank also participated on behalf of El Salvador. These officials presented a plan to boost public and private economic investment that the government intends to obtain, in order to achieve the desired economic growth, but also to provide employment opportunities to those returning to the country in the coming months.
According to the Salvadoran Finance Minister, the strategic axes of foreign investment that the government is betting on are, among others: infrastructure, tourism and energy generation. This bet cannot be carried out without the cooperation of strategic allies of our country, among which of course is the United States, as well as with the participation of multilateral organizations that facilitate financing for public investment. That is why representatives of the International Monetary Fund and the World Bank also participated in the round of meetings.
The government authorities presented our country’s advances in terms of security, institutionality, robustness of the financial system and its project of economic and social development, which will be sustainable in the coming years, to become an attractive point for domestic and foreign investors. Part of this effort to transfer relevant information on the country’s conditions for investment was that meetings were also held with risk rating agencies, which also play an important role in providing data and evaluations on the country’s financial situation. We hope that this series of important meetings will result in new projects in the short term, which of course we will be following closely.
David Claros Flores
Associate
García & Bodán
El Salvador