According to statistics published by a report of the Banco Central de Reserva (BCR), between february 2021 and the same month of this year, more than 60 thousand jobs were created in the formal sector of the economy.

Monday, 13 June 2022 20:12

Tips to improve your economy by saving

Written by

There are practical tips on how you can save money, it is very simple, you just have to change certain habits:

Now entrepreneurs, sectors, young people and salvadorans abroad can access formal banking, with the ruling in favor of the reforms to the Law to Facilitate Financial Inclusion, this was announced by the deputy of Nuevas Ideas, Aronette Mencia.

The minister of Finance Alejandro Zelaya, informed through his twitter account that any bank, company or entity that requires the presentation of the Número de Identificación Tributaria (NIT) to carry out procedures to individuals over 18 years old, will be sanctioned by the Ministry of Finance.

In a conference given by the Managing director of the International Monetary Fund (IMF) Kristalina Georgieva, she pointed out that the current problem with remittances is that they have an average transfer cost of 6.3%.

With the objective of promoting partnership and dialogue on priority issues on the strategic partnership agenda between the European Union (EU) and Latin America and the Caribbean (LAC), the Central American Bank for Economic Integration (CABEI) participated in the "European Union - Central America: New Alliances for Development Dialogue Conference", held in Panama.

Tuesday, 07 June 2022 01:31

Key tips to improve your financial education

Written by

If anything positive has come out of the previous crises, it is learning about the importance of saving at home and becoming familiar with key financial terms that help to understand the fine print of a bank contract (floor clause, IRPH...). However, financial education is still a challenge for spanish. If we are not used to saving, comparing and understanding what we are signing, it will be difficult to pass this need on to our children.

Now it will be easier to open a savings account, said Congresswoman Aronette Mencia, with the possible reforms to the Law to Facilitate Financial Inclusion, salvadorans will be able to open their deposit accounts with ZERO amount.

According to the International Budget Partnership (IBP) survey, El Salvador falls in the world rankings of budget accountability and obtained a drop of five points, going from 46 in 2019 to 41 in 2021 on a scale from 0 to 100.