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The IMF staff report for the third review under the Stand-By arrangement with the officials of El Salvador on economic developments and policies. Developments from the second review are outlined. Discussions on the policy adjustments needed to keep the key objectives of the program for 2011 and 2012 have been explained. Revenue administration, treasury single account (TSA), medium-term expenditure framework (MTEF), and budget reforms are used to strengthen the fiscal consolidation strategy. Lender-of-last-resort (LOLR) facility has been set up to improve liquidity defenses.

Fiscal policy --- El Salvador --- Economic policy. --- Economic conditions --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Government policy --- Salvador, El --- República de El Salvador --- Republic of El Salvador --- République d'El Salvador --- Salvador --- Сальвадор --- Республика Эль-Сальвадор --- Respublika Ėlʹ-Salʹvador --- 萨尔瓦多 --- Sa'erwaduo --- 萨尔瓦多共和国 --- Sa'erwaduo Gongheguo --- אל סלבדור --- אל סלודור‏ --- Central America (Federal Republic) --- Banks and Banking --- Exports and Imports --- Macroeconomics --- Public Finance --- Debt --- Debt Management --- Sovereign Debt --- Taxation, Subsidies, and Revenue: General --- International Lending and Debt Problems --- Public Enterprises --- Public-Private Enterprises --- Monetary Policy --- Public finance & taxation --- International economics --- Civil service & public sector --- Banking --- Public debt --- Revenue administration --- External debt --- Economic sectors --- Central banks --- Debts, Public --- Revenue --- Debts, External --- Foreign exchange reserves