The president of the BCR, Douglas Rodríguez, reported on the economic progress the country has made and the series of policies that have encouraged more businessmen to settle in El Salvador.

Salvadoran authorities welcomed all participants, highlighting the country's progress in economic and financial matters, as well as the security conditions generated in the country.

This meeting of the Council also commemorates the 60th anniversary of its foundation and its Executive Secretariat, created on february 25, 1964, through the "Agreement for the Establishment of the Central American Monetary Union", signed by the central banks of the region.

During this meeting, members will discuss the regional macroeconomic context and the outlook for 2024. Also, innovative initiatives on the role of Central Banking and digital innovation in the services offered to the population by the Banco Central de El Salvador.

In addition, special guests from the Bank of Spain, the Inter-American Development Bank, the Bank for International Settlements, the International Monetary Fund and the Central American Bank for Economic Integration will analyze economic policy challenges, international financial conditions and regional development initiatives. The Central Bank of Brazil will also be a special guest.

The objective of this Central American Monetary Council is to promote cooperation in monetary and financial policies of member countries. The CMCA is an organ of the Sistema de la Integración Centroamericana.

In addition to contributing to the strengthening of regional financial stability, it promotes the harmonization and dissemination of regional economic statistics. Additionally, it promotes economic research with a regional focus.

Translated by: A.M