Business and Economy
El Salvador’s Airport of the Pacific: Prospects and Challenges of the New Airport in El Salvador
The Airport of the Pacific is El Salvador’s new airport set to be built in Conchagua, la Union, in the eastern part of El Salvador, near the Gulf of Fonseca. The new airport in El Salvador started as a campaign promise of President Nayib Bukele to the people of Eastern … Read more
Legal Currency of El Salvador. What Currency Does El Salvador Use?
The legal currencies of El Salvador are the United States dollar, the Bitcoin cryptocurrency, and the Salvadoran Peso or Colon. The currency El Salvador uses the most is the US dollar. It is followed by the Bitcoin cryptocurrency. Since September 2021, El Salvador has had three legal currencies (Colon, US … Read more
Salvadoran Congress approves agreement between Google and El Salvador
With 65 votes, the Salvadoran Congress approved an agreement between Google and El Salvador to establish operations in the country, which will help digital transformation and modernize government services. The approving vote transpired at the September 6 legislative plenary session. The implementation of the strategic alliance with Google will allow … Read more
Salvadoran Government accepts private banks’ proposal to extend the terms to pay short-term debt
El Salvador is grappling with pressing short-term debt issues, a challenge exacerbated by world economic issues and high inflation. A term restructure is a solution to manage the country’s debt obligations and ensure financial stability. The Salvadoran Ministry of Finance announced that it had accepted the private banks’ proposal to … Read more
Local Banks Offer the Salvadoran Government New Short-term Debt Terms
The Salvadoran Banking Association (ABANSA) reported Thursday, August 24, that it had submitted a proposal to the Salvadoran Ministry of Finance to modify the structure of local debt issuance. Currently, short-term debt is limited to terms of no more than 365 days. The banks have proposed a structure of local … Read more
The Cargo Ferry Between El Salvador and Costa Rica to Begin Operations on August 10
The cargo ferry between El Salvador and Costa Rica will start operating on August 10, 2023. The ferry will have two departures, Monday and Thursday, from La Union Port in El Salvador to Caldera Port in Costa Rica. Blue Wave Corporation indicated that a third weekly trip could be added … Read more
2022 Survey on El Salvador’s financial inclusion
The Salvadoran Central Reserve Bank (BCR) presented the results of a survey regarding the financial inclusion of the Salvadoran population. The surveys asked Salvadorans about savings accounts, loans, insurance, having retirement or pension accounts, Cryptocurrencies, and using traditional or digital financial channels. Financial inclusion is a problem affecting the majority … Read more
