Salvadoran Public Debt Reaches 17% of GDP

©image: Sam Photos8.com

In 2009, the Legislature approved new loans for $2.76 billion. The executive has recently stated that an additional $886 million are required to face short term obligations.

Adding other loans and donation, the total debt would reach $3.67 billion, according to analyst Claudio de Rosa. This amounts to 16.9% of the average GDP in 2009-2010.

“Another important fact to weigh in is that multilateral organizations affirmed that the government will require an additional $500 million in the near future”, reported Elsalvador.com.

Source: elsalvador.com

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