Business and Economy

Inflation rate in El Salvador

The Inflation Rate in El Salvador for 2024 Is 1.14, the Lowest in Three Years

As of the end of April 2024, the inflation rate in El Salvador, reported by the Central Reserve Bank (BCR), is 1.14%, representing the lowest rate recorded since February 2021. Today’s inflation rate in El Salvador is 0.37 or 48.05% higher than the 0.77 it closed in March. April’s increase … Read more

El Salvador Bitcoins

El Salvador Bitcoins: A Nation’s Journey into Digital Currency

El Salvador continues investing in Bitcoin. As of May 5, 2024, El Salvador possesses 5,740.76 Bitcoins, valued at $367,850,429 US dollars, equivalent to $64,077.00 per Bitcoin. President Nayib Bukele’s unprecedented decision to make Bitcoin a legal tender in El Salvador in 2021, has sparked intense discussions globally, reshaping perceptions of … Read more

El Salvador’s basic food basket cost

El Salvador’s Basic Food Basket Cost in 2024 is $254.79 in Urban Areas

El Salvador’s basic food basket cost per family is $254.79 for the urban sector and $183.02 for rural areas. The Salvadoran essential food basket cost in urban areas is about 28.2% more expensive than in the rural sector. One of the principal worries Salvadorans have in 2024 is the high … Read more

Remittances to El Salvador

Year to Date, Remittances to El Salvador Are Down $18.43 Million or 0.96%

Thus far, in 2024, remittances to El Salvador are down 0.96% compared to 2023. According to the Central Reserve Bank of El Salvador (BCR), remittances to El Salvador as of March 2024 totaled $1895.7 million. The figures from the Salvadoran Reserve Bank indicate that this year’s remittances have decreased by … Read more

IMF Economic Outlook for El Salvador

The International Monetary Fund “IMF” Predicts El Salvador’s Economy Will Grow by 3% in 2024

The International Monetary Fund (IMF) improved its growth projections for El Salvador and expects the country to grow 3% at the end of 2024; this projection is higher than the 1.9% predicted in October 2023. The IMF is the second economic organization in 2024 that has increased the country’s projections. … Read more

El Salvador Credit Ratings

El Salvador Credit Ratings: S&P maintains El Salvador’s rating at B- with a Stable Outlook

On Thursday, April 15th, the S&P Global Ratings agency declared that it would uphold El Salvador’s sovereign risk rating at B-, maintaining a stable outlook. S&P Global is the first credit rating agency to respond following the Salvadoran government’s announcement of its reentry into the international market after a four-year … Read more

ECLAC El Salvador Economic Outlook

The Economic Commission for Latin America “ECLAC” Predicts El Salvador’s Economy Will Grow by 2% in 2024

The Economic Commission for Latin America (ECLAC) predicts an economic growth of 2% for El Salvador in 2024. The projected increase was made public on ECLAC’s December 2023 Preliminary Overview of the Economies of Latin America and the Caribbean 2023. The United Nations agency’s projection falls below the 3% to … Read more