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El Salvador's credit rating downgraded to CCC on the Fitch Ratings scale
Written by Evelyn Alas
Fitch Ratings said that El Salvador's credit rating, downgraded to "CCC" from "B-" the country's long-term international issuer default ratings (IDR) have cited concerns over the use of Bitcoin as legal tender in the Central American country.
IMF offers financing to pay US$800 million maturity of the 2023 bond
Written by Evelyn Alas
The Minister of Finance, Alejandro Zelaya, said in a morning interview that several multilateral organizations including the International Monetary Fund (IMF), have offered the Central Government funds to finance the US$800 million maturity of the 2023 bond.
Country risk increased 15.71% in january 2022 according to UFG report
Written by Evelyn Alas
According to a report prepared by the Universidad Francisco Gavidia (UFG), El Salvador's Emerging Markets Bond Indicator (EMBI) after falling to 5.38 in April 2021, rose to 15.71 in january 2022 (+1,033 basis points in 9 months), in view of changes in the Corte Suprema de Justicia (CSJ), Fiscalía General de la República (FGR), the announcement of free circulation of Bitcoin and uncertainty in the negotiation the International Monetary Fund (IMF).
US$480 million to be invested in the execution of municipal works
Written by Evelyn Alas
The Central Government began to execute a total of US$1.51 billion for this first set of Economic Impulse initiatives. Within this package, US$480 million will be invested in the Dirección de Obras Municipales (DOM).
Recommendations for acquiring a financial product or service
Written by Evelyn Alas
When you go to buy a pair of pants or a pair of shoes, you probably go to several stores, compare prices, look at the product's features, and finally decide on the one you think best meets your needs. Well, you should follow the same process when you buy a financial product or service.
If you do not know how your Administradoras de Fondos de Pensiones (AFP) savings account payments are broken down, this article will explain it to you.
Treasury requests public utility corporations and foundations to file their income tax returns
Written by Evelyn Alas
The Ministry of Finance, through the General Directorate of Internal Taxes, urges corporations and foundations of public utility that are qualified as subjects excluded from the payment of Income Tax, in accordance with Article 6 paragraph c) second clause of the Tax Law in reference, to the following:
BCR affirms that IVAE grew 4.2% as of november 2021
Written by Evelyn Alas
The Banco Central de Reserva (BCR), informed through its twitter account that the Volume Index of Economic Activity (IVAE) grew 4.2% in november 2021, reflecting a dynamic environment for most services and trade activities.
ILO says Latin America and the Caribbean still needs to recover 4.5 million jobs
Written by Evelyn Alas
The economic growth recorded in 2021 was insufficient to recover the labor market in Latin America and the Caribbean, which two years after the onset of the crisis is experiencing high unemployment and the prospect of an increase in informality.