Development bank clears $500 million for El Salvador after IMF deal

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Development bank clears $500 million for El Salvador after IMF deal

, Reuters - 6:14 PM ET 3/20/2025 default

SAN SALVADOR, March 20 (Reuters) - The Inter-American Development Bank (IDB) will lend El Salvador $500 million to shore up its budget as the Central American nation carries out structural reforms stipulated under a recent deal with the International Monetary Fund (IMF), the IDB said on Thursday.

The loan will give El Salvador room to make progress on reforms to increase tax revenue, reduce public debt, rebuild international reserves and improve financial governance, the IDB said in a statement. (Reporting by Nelson Renteria; Editing by Brendan O'Boyle)

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