Fitch Upgrades the Credit Rating for El Salvador to B-, Stable Outlook
The main driver of the upgrade is the agreement with the IMF, pending ratification by its Executive Board in February. Fitch included a summary of the country’s finances, noting that public debt reached 87.7% of GDP in 2024.
The Economic Sciences Research Institute of the University of Costa Rica predicts that the national economy’s GDP will grow by around 4.2% in 2025.
On January 14, 2025, the Economic Sciences Research Institute (IICE) of the University of Costa Rica (UCR) published its Quarterly Economic Analysis: Third Quarter 2024 and Projections for the First Quarter of 2025 and the Full Year.
Historic Achievements in El Salvador: Transforming Security
Improved safety measures are another example of historic achievements in El Salvador, bolstering tourism and foreign investment. Reduced crime rates have reassured international travelers and investors, making the country an attractive destination. Urban centers like San Salvador and Santa Ana have undergone revitalization, with safer public spaces encouraging cultural and recreational activities. These developments enhance El Salvador’s global image and create new economic opportunities.
The Costa Rican Role in US Supply Chains: Medical Devices and Semiconductor Manufacturing
The U.S. State Department has presented an account of its Economic Growth Strategy for Latin America, highlighting Costa Rica’s role in US supply chains as a critical element in fostering economic growth and resilience. José W. Fernández, Under Secretary of State for Economic Growth, Energy, and the Environment, delivered the report. In his remarks, Fernández emphasized Costa Rica’s specialized production capabilities and its critical role in the United States’ efforts to strengthen supply chains by fostering investments in closer, more reliable countries.
Expectations Regarding a Possible Agreement Between El Salvador and the IMF
The prospect of an agreement between El Salvador and the International Monetary Fund (IMF) has generated widespread discussion among economic analysts, business leaders, and government officials. While such an agreement is expected to demand significant fiscal adjustments, including reducing social spending, it also promises to improve the country’s economic conditions.
Costa Rica Manufactures and Develops Medical Devices: 16 Areas of Specialization Stand Out in the Country
Among the world’s 30 leading medical device brands, 14 have production plants in Costa Rica. Over the past two decades, these factories have transitioned from assembling parts to conducting research and developing advanced cardiovascular, respiratory, neuro-endovascular, and orthopedic mechanisms.
What Is the Bukele Economic Plan for El Salvador?
President Nayib Bukele has crafted a comprehensive and strategic vision to improve El Salvador’s economy, emphasizing technological innovation, enhanced security, and attracting foreign investments.
ULACIT and CINDE Form Alliance to Provide Professional Internships in Costa Rica
The Latin American University of Science and Technology (ULACIT) and the Costa Rican Investment Promotion Agency (CINDE) have announced a groundbreaking alliance to enhance student career opportunities through professional internships with multinational companies in Costa Rica. This collaboration aligns with the growing demand for skilled talent in strategic sectors such as life sciences, manufacturing, corporate services, and digital technologies.
Banco Cuscatlán and the Chamber of Commerce and Industry of Launch Training Program and Seed Capital in El Salvador for SMEs
The seed capital program is a holistic approach to helping SMEs in El Salvador thrive. Beyond just offering financial assistance, it provides businesses with the knowledge, training, and resources they need to adapt to the rapidly changing business landscape.
The Free Trade Zones in Costa Rica Contributed Over $12 Billion to the Economy in 2023
In 2023, Costa Rica’s free trade zones generated approximately $12.276 billion, representing about 14% of the country’s Gross Domestic Product (GDP). These zones also contributed nearly 40% of the total foreign direct investment (FDI) inflows to Costa Rica.
China and El Salvador Advance Free Trade Negotiations
China and El Salvador marked an essential step in their economic relations by recently holding their first Joint Trade and Economic Committee meeting. Convened in San Salvador, El Salvador’s capital, both nations were committed to fast-tracking negotiations for a Free Trade Agreement (FTA). The meeting underscored the mutual benefits both countries expect to gain from a strengthened economic alliance. It showed China’s strategic interest in Central America as a region for long-term partnerships.
Costa Rica and the United Arab Emirates Strengthen Relations
Costa Rica and The United Arab Emirates (UAE) are strengthening their bilateral relations by creating new economic opportunities, educational exchanges, and infrastructure advancements. The UAE’s Ambassador to Costa Rica, Rawdha Al Otaiba, recently presented a compelling vision for cooperation between the two nations.
