January 8, 2018 / 6:49 PM / in 9 months

BRIEF-Fitch Says El Salvador Budget Approval Reduces Near-Term Risks

Jan 8 (Reuters) - Fitch:

* FITCH SAYS EL SALVADOR BUDGET APPROVAL REDUCES NEAR-TERM RISKS

* ‍FITCH SAYS THE PASSAGE OF EL SALVADOR’S BUDGET SHOULD REDUCE NEAR-TERM SOVEREIGN CREDIT RISKS BY UNLOCKING EXTERNAL FINANCING​

* FITCH SAYS SIGNIFICANT MEDIUM-TERM CHALLENGES REMAIN FOR EL SALVADOR, INCLUDING WEAK ECONOMIC GROWTH PROSPECTS, LARGE DEBT BURDEN

* FITCH SAYS EL SALVADOR’S UPCOMING LEGISLATIVE ELECTIONS IN MARCH AND FEBRUARY 2019 PRESIDENTIAL ELECTION WILL “TEST RECENT POLITICAL HARMONY”

* FITCH SAYS “EL SALVADOR’S DEEP POLITICAL POLARIZATION BETWEEN GOVERNING FMLN PARTY AND MAIN OPPOSITION ARENA PARTY IS MAIN IMPEDIMENT TO CREDIT QUALITY”

* ‍FITCH SAYS U.S. TRADE, TAX POLICIES COULD AFFECT EL SALVADOR BY MAKING IT LESS ATTRACTIVE FOR INVESTMENT, ESPECIALLY IN MANUFACTURING SECTOR ‍​ Source text for Eikon:

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