Economic Definitions

BANADES: National Bank of Development

BANIC: National Bank

BCIE: Central American Bank of Economic Integration

BCN: Central Bank

BID: International Bank of Development

BOFOS: Bonds of Fomentation

CENIs: Commercial certificates issued by the government which are indexed to the US dollar.

Club of Paris: Designation for meetings between representatives of a developing country that wishes to re-negotiate its official debt and representatives of the relevant creditor governments and international institutions. Meetings are traditionally chaired by a senior official of the French Treasury Department.

ENEL: State owned electric company

ENITEL: State owned telephone company

FMI, IMF: International Monetary Fund

GDP: Gross Domestic Product. The GDP is the total amount of income produced by industry, commerce, etc. in a country. The United States' GDP is somewhere around 11 trillion dollars.

HIPC: Highly Indebted Poor Countries Incentive

INAA: State owned water company

INSS: National Social Security Institute

Macroeconomic: This is a term which simply means the "big economic picture." When this term is used it signifies that they are referring not to a specific event, but to general conditions.

MEDE: Ministry of Economy and Development

ONGs: Non-profit gubernatorial organizations

Per Capita Income: Roughly speaking, this number is the amount that each working person in a country makes on an average. It is the GDP divided by the number of able workers in a country.

SBIF: Superintendency of Banks, created to monitor banking activities.

SEIF: System for the Evaluation of the Financial Integrity of the State

SNIP: National System of Public Investment

RIN: Net international reserves

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