IMF and El Salvador Solidify $1.4 Billion Program Progress
The International Monetary Fund (IMF) has successfully completed the first review of its $1.4 billion 40-month extended fund facility arrangement with El Salvador. All targets for this initial review have been met with ease, and there has been significant progress in implementing structural benchmarks, according to the IMF.
On Tuesday, the International Monetary Fund (IMF) announced a successful agreement with El Salvador following the first review of their $1.4 billion program.
Initially approved in February, the extended fund facility aims to support El Salvador over 40 months.
The IMF's statement highlighted that El Salvador easily met the majority of program targets and is making good progress on structural benchmarks.
(With inputs from agencies.)
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