Ingresar
El Salvador’s economy has rebounded quickly
By Eproint
The International Monetary Fund (IMF) released a Concluding Statement describing the preliminary findings of its staff at the end of an official mission to El Salvador.According to the report, the Salvadoran economy is expected to grow in line with the U.S. economy, to which it is closely intertwined. Real GDP growth in El Salvador is expected to converge to 2 percent by 2026, as the effects of extraordinary policy measures will wane in the U.S., and the high Salvadoran sovereign spreads will limit private investment.
By the third quarter of 2021, industrial production, total employment, and wages have reached pre-pandemic levels. Merchandise exports and tax collection are well above pre-pandemic levels. On the back of buoyant exports, high remittances, and public investment, the economy is projected to grow by about 10 percent in 2021 and 3.2 percent in 2022.
“The pandemic interrupted ten years of growth, but El Salvador’s economy has rebounded quickly. Robust external demand, resilient remittances, and sound management of the pandemic—with the help of the International Monetary Fund’s Rapid Financing Instrument (RFI, US$389 million) approved in April 2020—are supporting a strong recovery”, the IMF stated.
The discussions of the IMF mission in El Salvador focused on the policies needed to secure inclusive growth, improve fiscal sustainability, ensure financial stability, and strengthen economic governance. The adoption of Bitcoin as legal tender, the regulation and supervision of Bitcoin services providers, and e-wallet Chivo were also discussed.
Eproint
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In El Salvador, Practice Head Edy Guadalupe Portal is a partner at Eproint and has more than 25 years of experience in Intellectual Property. Since 1995, she has been recognized as the Salvadoran voice of Intellectual Property protection for always informing the IP community about changes to IP law and international treaties.
During her career, Mrs. Portal has helped numerous international law firms and in-house counsel with all facets of their IP matters in El Salvador and Central America. Her extensive practice includes work in trademarks, patents, industrial designs, utility models, copyrights, unfair competition, foreign investment, regulatory law/health registrations, licensing, franchising, appellations of origin, geographical indications, IP litigation, fashion law, new technologies, data privacy, cybersecurity, domain names, entertainment law, advertisement law, trade secrets, valuation of intangibles, and IP due diligence. She is also recognized for the great anti-piracy and anti-counterfeiting results she has delivered for her clients. She also helps coordinate Latin America Intellectual Property Protection for the firm.