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IMF assures El Salvador to grow 3% in 2024

San Salvador, Jun 11 (Prensa Latina) El Salvador will grow three percent in 2024, the International Monetary Fund (IMF) indicated on Tuesday, which coincides with forecasts of the Central Reserve Bank (BCR).

However, this rate will be lower than that of all its neighbors with the exception of Nicaragua, which will only reach a 2.5 percent rise in 2024, while Costa Rica will reach four percent, Guatemala 3.5 percent, Honduras 3.6 percent, Panama 3.5 percent and the Dominican Republic closes with 5.4 percent.

In its assessment, the IMF highlighted that Salvadoran growth is higher than the two percent forecast by them for most Latin American and Caribbean nations for 2024.

The forecast coincides with recent statements made by Vice President Felix Ulloa, who said in statements to RT channel that his country is close to reaching a credit agreement with the Fund for 1.3 billion dollars.

The IMF unfolded that Latin America and the Caribbean showcased remarkable resilience in the face of recent global challenges, and recovered from the pandemic more strongly than expected. Now, it added, growth is moderating, from 2.3 percent in 2023 to two percent in 2024, as most economies are at their potential level.