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The International Monetary Fund approves $389 million for El Salvador

The IMF approved a disbursement of $389 million dollars for El Salvador, after a request for assistance from the government of Nayib Bukele, in order

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The IMF approved a disbursement of $389 million dollars for El Salvador, after a request for assistance from the government of Nayib Bukele, in order to have funds to face the Covid-19 crisis.

The executive board agreed to grant the disbursement, after evaluating the reactions and measures taken by the government to face the pandemic.

The International Monetary Fund estimates that in 2020 Central America will go back a 3%, in a context of global recession due to the new virus and the key to avoid economic instability is to provide support to the countries of that region.

“The COVID-19 pandemic is severely affecting El Salvador, creating an urgent balance of payments need” said in a press release Mr. Mitsuhiro Furusawa, Deputy Managing Director of the IMF.

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