The Government of President Nayib Bukele establishes The Economic Response and Relief Plan for the National Emergency against COVID-19

To deal with the economic impact of the National Emergency before the COVID-19 pandemic, the economic cabinet of the Government of President Nayib Bukele lays out the following measures:

  1. The payment for the electric fee is suspended for 3 months. These three payments will be diluted in two years without generating arrears, or interests, or affect the credit qualification.
  2. The payment for water fee will be suspended for 3 months. The payment for these fees will be diluted in two years without generating arrears, or interests, or affect the credit qualification.
  3. The collection of payments for mortgage and personal credits, credit cards, work or undertaking capital, will freeze for 3 months, without applying arrears, fines on interests, or affect the credit qualification. The payment will resume at the end of this period. 
  4. The payment for telephone bills, cable and internet, will be suspended for 3 months. These three payments will be diluted in two years without generating arrears, or interests, or affect the credit qualification.
  5. The payment for credits with commercial establishments for the next 3 months. These three payments will be diluted during the remaining credit months, without interests, or arrears and without affecting the credit qualification.

These measures will be applied for all natural and legal entities that are directly affected by the COVID-19 pandemic, and the government institutions will safeguard that in its application there are no abuse or exploitation.

It´s requested to all productive forces in the country, to abide all their tax obligations for the Government to have the capacity to attend to this crisis.

Other measures will be added to the ones detailed in this document, which will seek to relieve more specific situations of this crisis. There´s a work been done with various financial teams, bank and legal institutions, to give legal and financial strength to the residents and the State.

Whatever happens, we will do what’s right for our Country.

San Salvador, March 18th 2020.

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