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Business Daily

Fixing El Salvador's economy

Business Daily

BBC

Business

4.4816 Ratings

🗓️ 30 June 2024

⏱️ 17 minutes

🧾️ Download transcript

Summary

After tackling its security problem, can the smallest country in Central America get its finances under control too?

We hear from street sellers, economists and locals about the issues they're still facing, and visit a surf town where tourism is having a big economic impact.

Produced and presented by Jane Chambers

(Image: A street market in San Salvador, El Salvador, on Tuesday, March 19, 2024. Credit: Getty Images)

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to Business Daily from the BBC World Service. I'm Jane Chambers. Today we're in

0:09.8

El Salvador, the smallest and most densely populated Central American country. In recent years,

0:15.8

it's had major issues with gangs which have rocked El Salvador's stability and halted growth.

0:21.9

In April 2022, the government declared a state of emergency

0:25.6

and sent the police and military to arrest thousands of gang members

0:29.6

who were terrorizing the country and extorting local business owners.

0:33.7

The gangs will threaten us and ask for money and if we didn't pay up, they could kill you.

0:41.9

Now, after tackling its security problem, can this country of around 6.5 million inhabitants

0:48.0

get its economy under control?

0:53.3

I can move around El Salvador safely now.

0:56.0

I have a house in another part of the country that I can visit.

1:00.0

Before we had to ask permission from the gangs to travel through different areas they control.

1:05.0

Now I can travel freely.

1:16.6

We'll take the economic temperature of El Salvador and hear how different communities are doing.

1:17.6

That's all coming up in business daily.

1:21.6

Our clients are mostly Salvadorians who live here, but 50% are Salvadorians who live outside our country.

1:37.6

And right now, because of the perception of our country from outside, they are very interested in El Salvador.

1:47.6

Meet Karen Fuentes. She is an estate agent for a company called Remax Central. It's a hot and sticky

1:53.7

35 degrees outside, so the air conditioning is on at full blast in her office on the 21st floor

2:00.4

of a fancy building in the center of the country's capital, San Salvador.

2:04.9

It has incredible panoramic views of the mountains and volcanoes that surround the city

2:09.7

and of the best neighbourhoods clients want to make their home.

...

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