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KEY ISSUES Focus: The main themes centered on tackling macroeconomic vulnerabilities and improving the medium-term outlook by achieving an ambitious fiscal adjustment while protecting social spending, creating an environment for higher private sector-led growth, and building a robust financial sector. Main policy issues • A reduction in the fiscal deficit of 31⁄2 percent of GDP is needed over the next three years to place public debt on a sustainable path to maintain access to market financing on favorable terms. This adjustment should be accompanied by well- targeted social spending to protect the most vulnerable and continued progress in lessening inequality. • A broad strategy is also needed to reduce the growing imbalances in the pension system and restore its sustainability for future generations. In this regard, a broad- based dialog across all segments of Salvadoran society is needed to build support for a reform that should include an increase in the retirement age and introduce a progressive taxation of benefits. Steps are also needed to further strengthen public financial management to mitigate key fiscal risks, including by enhancing expenditure monitoring and control (to avoid future spending arrears) and recording contingent fiscal liabilities transparently in the fiscal accounts. • The authorities’ goal of raising potential growth to 3 percent while reducing inequality will require substantial supply-side measures to enhance productivity and competitiveness. These should aim to reduce red-tape, increase access to credit, upgrade infrastructure, provide access to and lower the cost of energy, and diversifying the economy. The FOMILENIO II grant from the U.S. provides a valuable opportunity to catalyze such growth-enhancing reforms. • Banking indicators appear sound, a product of prudent supervision and regulation. Nonetheless, there is scope to further strengthen the institutional underpinnings for financial stability by upgrading the legal framework for bank resolution and by creating an appropriate liquidity safety net for banks.
World Bank Technical Paper No. 327. Presents the types of indicators and the methodology that should be used in monitoring the progress of reforms in trade and price policy interventions in Paraguay. Handbooks are also available for: Argentina, stock no. 13333; Chile, stock no. 13323; Colombia, stock no. 13117; The Dominican Republic, stock no. 13116; Ecuador, stock no. 13527; Uruguay, stock no. 13306.
El Salvador is home to spectacular Mayan ruins, active volcanoes, the vibrant capital city of San Salvador, and unspoiled beaches along the Pacific Coast. This book delves into El Salvador’s colorful history, development, economy, food, and environment, and its place in the world today. All books of the critically-acclaimed Cultures of the World® series ensure an immersive experience by offering vibrant photographs with descriptive nonfiction narratives, and interactive activities such as creating an authentic traditional dish from an easy-to-follow recipe. Copious maps and detailed timelines present the past and present of the country, while exploration of the art and architecture help your readers to understand why diversity is the spice of Life.
Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
El Salvador's civil war began in 1980 and ended twelve bloody years later. It saw extreme violence on both sides, including the terrorizing and targeting of civilians by death squads, recruitment of child soldiers, and the death and disappearance of more than 75,000 people. Examining El Salvador's vibrant life-story literature written in the aftermath of this terrible conflict--including memoirs and testimonials--Erik Ching seeks to understand how the war has come to be remembered and rebattled by Salvadorans and what that means for their society today. Ching identifies four memory communities that dominate national postwar views: civilian elites, military officers, guerrilla commanders, and working class and poor testimonialists. Pushing distinct and divergent stories, these groups are today engaged in what Ching terms a "narrative battle" for control over the memory of the war. Their ongoing publications in the marketplace of ideas tend to direct Salvadorans' attempts to negotiate the war's meaning and legacy, and Ching suggests that a more open, coordinated reconciliation process is needed in this postconflict society. In the meantime, El Salvador, fractured by conflicting interpretations of its national trauma, is hindered in dealing with the immediate problems posed by the nexus of neoliberalism, gang violence, and outmigration.
Latin America has among the world's highest homicide rates. The author analyzes the illicit organizations, complicit and weak states, and territorial competition that generate today's violent homicidal ecologies.
Over the past half-century, El Salvador has transformed dramatically. Historically reliant on primary exports like coffee and cotton, the country emerged from a brutal civil war in 1992 to find much of its national income now coming from a massive emigrant workforce that earns money in the US and sends it home. In this work, Pedersen examines this new way of life as it extends across two places: Intipucā, a Salvadoran town infamous for its remittance wealth, and the Washington, DC metro area.