Business and Economy


El Salvador Bitcoins

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


To protect the country’s Bitcoin investments by keeping them offline, President Bukele announced on March 14 the transfer of “a big chunk” of the country’s Bitcoin holdings into a cold wallet. President Bukele also noted that the cold wallet would be securely located within the country’s borders, stored in a … Read more

Inflation rate in El Salvador

The Inflation Rate in El Salvador for 2024 Is 0.80, the Lowest in Three Years


As of February 2024, the inflation rate in El Salvador, reported by the Central Reserve Bank (BCR), is 0.80%, representing the lowest rate recorded since January 2021. Today’s inflation rate in El Salvador is -0.40 or 33.33% lower than the 1.20% it closed the previous month. The Salvadoran inflation rate … Read more

El Salvador’s basic food basket cost

El Salvador’s Basic Food Basket Cost in 2024 is $256.74 in Urban Areas


El Salvador’s basic food basket cost per family is $256.74 for the urban sector and $185.12 for rural areas. The Salvadoran essential food basket cost in urban areas is about 27.9% more expensive than in the rural sector. One of the principal worries Salvadorans have entering 2024 is the high … Read more

Remittances to El Salvador

Remittances to El Salvador in January 2024 Decreased by 0.36% Compared to January 2023


Family remittances to El Salvador dropped by 0.36% in January of this year compared to January 2023. According to the Central Reserve Bank of El Salvador (BCR), remittances to El Salvador in January 2024 totaled $594.1 million. Last year, remittances to El Salvador reached a new high; in 2023, the … Read more

San Salvador El Salvador

Moody’s: El Salvador’s Improvements in Security Are Likely to Improve the Country’s Economy


Moody’s Investors Service, the risk agency, stated that the decline in insecurity levels will bolster the attraction of investments and enhance the outlook for economic growth in El Salvador. “Sustained improvements in security are likely to remove a major deterrent to diversifying the economy,” stated Moody’s announcement, which was shared … Read more

El Salvador Credit Ratings

El Salvador’s Credit Ratings: Moody’s Reiterates El Salvador’s CAA3 Credit Rating.


Moody’s Investors Service (Moody’s) informed that it had completed a periodic review of the credit ratings of El Salvador. Moody’s noted on its February 2 announcement that El Salvador’s ratings, including its Caa3 long-term issuer rating, with a stable outlook remain unchanged. El Salvador’s credit profile reflects still-high financing needs, … Read more

El Salvador Exports

El Salvador’s Exports Dropped by $617.02 Million in 2023, the Worst Decline Since 2020


According to the Salvadoran Reserve Bank (BCR), El Salvador’s exports in 2023 were $6,498.09 million, a drop of 8.67% or $617.2 million less than the $7,115.11 it exported in 2022. Except for a growth spike in February, the country’s exports consistently posted negative numbers throughout the rest of the year. … Read more