El Salvador: Third Review under the stand-by arrangement; Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director.

Download or read book El Salvador: Third Review under the stand-by arrangement; Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director. written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-10-12 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF staff report for the third review under the Stand-By arrangement with the officials of El Salvador on economic developments and policies. Developments from the second review are outlined. Discussions on the policy adjustments needed to keep the key objectives of the program for 2011 and 2012 have been explained. Revenue administration, treasury single account (TSA), medium-term expenditure framework (MTEF), and budget reforms are used to strengthen the fiscal consolidation strategy. Lender-of-last-resort (LOLR) facility has been set up to improve liquidity defenses.