Mauricio Funes, the newly elected president of El Salvador, is likely to tap IMF, IDB and World Bank sources to help his country navigate the economic slowdown. Last month the El Salvadorian central bank received $187 million of a $400 million three-year loan from the IDB that was signed in December.
“The need for external financing has been growing as the crisis advances, which is why maintaining an open window with multilaterals is so important,” says Alejandro Grisanti, a Barclays Capital analyst.
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