Central America
The Financial System Superintendence will strengthen public service’s efficiency
In order to respond to President Nayib Bukele’s government vision of making the country’s public services a more efficient and transparent model of administrative transformation, the Financial System Superintendence (SSF) signed four inter-institutional cooperation agreements. The objective: to improve the processes of fighting bureaucracy, strengthening supervision work, and improving public services provided to the population.
These agreements were signed by the Salvadorian Social Security Institute (ISSS), the National Registration Center (CNR) and the Deposit Guarantee Institute (IGD). They will expedite the exchange of information between the SSF Superintendence and the institutions. Thus improving services and strengthening supervision processes.
Two agreements were signed with the ISSS, through which members of the Pension Fund Administrators (AFP) and Institutes of the Public Pension System, including the ISSS and the National Institute of Public Employees’ Pensions (INPEP), will be benefited.
These agreements would allow for the information to be centralized in a single database, according to the terms established in Article 19 of the Pension Savings System Law. Both institutions will be able to immediately consult the data on the contribution forms.
The procedures carried out in the Disability Qualification Commission (CCI) of the Superintendence may now be carried out at the users-service posts in the Santa Ana and San Miguel ISSS. From now on, users will process their disability rating application faster.
Meanwhile, the agreement signed with the CNR will provide additional support to verify the transparency of the information provided by the supervised financial entities during the authorization process. Strengthening the technical knowledge of public service.
The agreement reached with the Deposit Guarantee Institute (IGD) will provide resources to facilitate the work done in benefit of depositors and the country’s financial system stability.
Central America
Murdered Environmentalist Juan López Laid to Rest in Honduras Amid Mourning and Outrage
The remains of environmental activist Juan López, who was in the final stages of his fight to close an open-pit mine in Honduras, were buried on Monday amid scenes of grief and indignation, two days after his assassination.
A large crowd gathered to accompany López’s casket in a funeral ceremony at the Church of San Isidro, in front of the main square of Tocoa, the town where hitmen shot him as he left a Catholic church, 220 kilometers northeast of Tegucigalpa, on Saturday.
After the funeral, a long procession of vehicles followed the casket to the New Municipal Cemetery on the outskirts of Tocoa. As night fell, López was laid to rest in a grave, with mourners lighting up the scene with their cellphones.
“They took him from my arms,” said López’s widow, Thelma Peña, in an emotional speech at the cemetery. “They accomplished what they had been planning for a long time,” she added, recalling how she had repeatedly begged him to abandon his fight. “He told me, ‘I can’t stop,’” she said tearfully.
López’s murder recalls the case of renowned environmental activist Berta Cáceres, who was killed in 2016 in Honduras, a country that ranks among the deadliest for environmental defenders, according to the NGO Global Witness.
“You knew very well that the extractivist and mining model kills and destroys the world, along with the corruption of false politicians and narco-governments, but above all, you understood that the fight for the life of our people never ends,” said Bishop Henry Ruiz in a message from Rome, read during the funeral.
Honduran President Xiomara Castro has demanded the fullest investigation into the murder.
Central America
El Salvador bonds surge following president Bukele’s fiscal announcement
Bloomberg reported that on Monday, El Salvador’s international market bonds rose following President Nayib Bukele’s announcement that the 2025 General Budget will not require external financing.
The financial news outlet highlighted that Salvadoran securities “rose across the curve, with those maturing in 2035 gaining 2.2 cents to 80.6 cents per dollar, the highest level since 2021.”
Carlos de Sousa, Emerging Markets Debt Portfolio Manager at Vontobel Asset Management, noted in the Bloomberg article that the president’s statement signals the country is on the right fiscal path.
Other analysts believe that this market boost may also benefit the agreement that El Salvador is negotiating with the International Monetary Fund.
“We see the Salvadoran government and the IMF closer than ever to reaching an agreement after years of negotiations,” Lucas Martin, Alex Muller, and Jane Brauer from Bank of America told Bloomberg.
In August, El Salvador’s bonds experienced a similar surge after the IMF announced a preliminary understanding with the Central American country.
At that time, bonds due in 2052 jumped 2.6 cents to 80.4 cents per dollar, the biggest one-day gain in over a month, according to indicative price data.
Central America
U.S. Secretary of State Blinken congratulates El Salvador on 203 years of independence
U.S. Secretary of State Antony J. Blinken congratulated El Salvador on behalf of the U.S. government on the commemoration of its 203rd anniversary of independence.
“On behalf of the United States of America, I extend my heartfelt congratulations to the people of El Salvador on the celebration of their Independence Day. On this special occasion, I reflect on the familial ties shared by our peoples and the important relationship between our governments,” said the U.S. official in a press release.
He also affirmed that the United States will continue promoting inclusive economic growth, citizen security with due process, and human rights in El Salvador.
“We welcome this special occasion as an opportunity to recognize our bonds of friendship and look forward to strengthening them even further in the coming year. I send my best wishes to the people of El Salvador this and every September 15th,” he added.
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