BLP’s summary of the most important regional news and opportunities offers an overview of the economic, social, and political landscape of Central America at just a click away.
Costa Rica Clears the Way for the Modernization of Puerto Caldera and Paves the Way for Transformative Investment in the Pacific
The Comptroller General’s Office rejected the pending appeals regarding the modernization of Puerto Caldera, clearing the way for INCOP to sign the contract with the Sunset Consortium and begin one of the most strategic infrastructure projects for Costa Rica’s development. President Laura Fernández emphasized that the new port infrastructure, representing an investment of over $600 million, will strengthen the country’s competitiveness, streamline foreign trade, attract foreign investment, and create jobs in the Pacific region. For the business sector, the Comptroller General’s resolution represents a turning point that reinforces the confidence of industry stakeholders in public procurement processes and eliminates the daily cost overruns that the lack of modernization imposes on export and import companies. The president of the Chamber of Industries described the decision as paving the way for the advancement of an urgent and strategic project that the country needs as a matter of priority. This transformative investment consolidates Costa Rica’s commitment to modernizing its logistics infrastructure and reinforces its position as a competitive hub for international trade and for attracting investment in the region.
Costa Rica stands out as the only OECD country with negative inflation
Costa Rica remains the only OECD member with negative inflation, consolidating an exceptionally stable price environment that contrasts with the upward trend seen in most of the world’s advanced economies, where energy inflation has driven overall price indices higher. This distinction positions Costa Rica as an economy with uniquely favorable macroeconomic conditions for businesses and investors seeking predictable environments with low-cost pressures, in a global context marked by geopolitical tensions and energy-driven inflation. Costa Rica’s price stability contrasts with the situation in other Latin American OECD member economies, reinforcing the country’s competitive advantage in terms of its macroeconomic environment. This performance is the result of the Central Bank’s prudent monetary policy, the appreciation of the colón against the dollar, and the resilience of the domestic supply of goods and services in the face of external shocks. The combination of negative inflation, competitive interest rates, and solid international reserves cements Costa Rica’s position as one of the most stable and attractive macroeconomic environments for investment throughout Latin America.
Costa Rica: The tourism market is projected to experience sustained growth that will consolidate the sector as a driver of the economy
Costa Rica’s tourism market will grow at an annual rate of 7.4% through 2031, reaching a value of more than 560 million dollars, according to an analysis by the consulting firm Mordor Intelligence, which reflects the growing international demand for the destinations and experiences the country offers. The meetings, incentives, conferences, and exhibitions (MICE) segment will lead growth at a rate exceeding the overall market average, while leisure tourism will remain the main driver, accounting for the largest share of total visitors. The consulting firm projects that the sector will close out 2026 with significant growth, driven by increased visitor spending and the expansion of domestic travel, which is also showing above-average momentum. This sustained growth stems from Costa Rica’s unique positioning as a destination for nature, wellness, and sustainability—attributes that are increasingly valued by international markets with higher purchasing power. The prospects for tourism expansion reinforce investment opportunities in hotel infrastructure, specialized services, and high-value segments such as MICE tourism and luxury ecotourism.
Costa Rica adjusts its lending rates to reflect a stable and competitive financial environment
The Central Bank of Costa Rica published the new maximum interest rates for the second half of 2026, with moderate adjustments that reflect the financial system’s stability and prudence in the conduct of the country’s monetary policy. Rates in U.S. dollars decreased, creating more favorable conditions for financing investment projects and business expansion in foreign currency, while adjustments in colones remained within minimal ranges that do not significantly affect access to credit. The maximum-rate mechanism ensures transparency and protection for both users of the financial system and businesses accessing productive credit. The Central Bank’s semi-annual publication of these rates is a sign of the institutional strength and regulatory predictability that characterize the Costa Rican financial system. This environment of competitive rates and clear regulatory frameworks consolidates Costa Rica’s position as an attractive destination for private investment and the development of productive projects financed by domestic and international banks.
The Costa Rican Tourism Institute Strengthens Its Tourism Promotion in Spain with Surfing, Wellness, and Sustainability Experiences
The Costa Rican Tourism Institute reinforced its promotional strategy in Spain through innovative initiatives focused on surfing, wellness, and sustainability by installing a wave simulator in Madrid under the “Surfing the Pura Vida” concept, which brought the Costa Rican experience to thousands of potential travelers amid a European heat wave. The initiatives included yoga sessions, presentations on the country’s tourism offerings, beach clean-up days with schools, and wellness activities at specialized venues in Madrid, connecting with a segment of tourists who prioritize nature, sports, and sustainable experiences. The campaign generated more than 1.5 million impressions on social media, amplifying the country brand’s reach among European communities interested in healthy lifestyles and purpose-driven travel. Spain remains the fourth-largest source market for European tourists to Costa Rica, with thousands of Spanish visitors arriving in the country during the first half of 2026, as part of a European influx exceeding 200,000 travelers. This differentiated promotional strategy reinforces Costa Rica’s positioning as a premium destination in Europe and strengthens its appeal for investment in wellness, surfing, and nature tourism.
El Salvador is making steady progress toward its tourism goal, with more than 2.5 million visitors in the first half of the year
El Salvador welcomed more than two and a half million international visitors during the first half of 2026, reaching nearly sixty percent of the annual goal set by the Ministry of Tourism. This trend solidifies the country’s position as one of the most dynamic tourist destinations in Central America. In the first quarter alone, international visitors generated more than $870 million in revenue for the Salvadoran economy, demonstrating tourism’s direct impact on the country’s economic activity. In 2025, El Salvador ranked as the second-most-visited destination in the region in international arrivals, reflecting the success of the tourism transformation strategy the country has been promoting in recent years. To end 2026 with more than four million visitors, the country is maintaining a growth pace that suggests record results by year-end. This performance consolidates tourism as one of the most dynamic drivers of the Salvadoran economy and opens up investment opportunities in hotel infrastructure, services, and high-value tourist experiences.
El Salvador is strengthening its export base with remarkable growth among companies
El Salvador’s largest export companies showed significant growth in the first five months of 2026, accounting for the vast majority of the country’s total merchandise export value, according to the Central Reserve Bank. The increase in the number of large exporters reflects the maturity and consolidation of El Salvador’s export sector, with companies strengthening their presence in international markets and expanding their sales volumes abroad. The parallel growth in the number of importing companies—driven in part by the procurement of raw materials and inputs for export-oriented production—demonstrates El Salvador’s integration into international value chains and the dynamism of its industrial and commercial activity. The United States remains the primary destination for Salvadoran exports, reflecting the strength of trade ties between the two economies and the competitiveness of domestic products in that market. This export performance consolidates El Salvador’s position as an economy with a dynamic and expanding business sector, offering favorable conditions for investment in manufacturing, agribusiness, and services geared toward international markets.
El Salvador bolsters its financial position through sustained growth in its international reserves
El Salvador’s net international reserves showed positive growth during the first half of 2026, reaching a level that far exceeds that recorded at the end of the previous year, according to data from the Central Reserve Bank, in line with the commitments made under the agreement with the International Monetary Fund. This strengthening of reserves reflects the soundness of the country’s balance of payments, the dynamism of exports, and the sustained flow of family remittances—factors that contribute to the accumulation of foreign assets available to support financial stability. The agreement with the IMF includes specific measures to strengthen reserves as part of an ambitious, growth-friendly fiscal consolidation plan, thereby reinforcing the credibility and external sustainability of the Salvadoran economy. Robust international reserves provide greater resilience against external shocks, improve the country’s risk perception in international markets, and strengthen investor confidence in macroeconomic stability. This performance consolidates El Salvador’s position as an economy with solid fundamentals and responsible financial management, creating increasingly favorable conditions for long-term investment.
El Salvador expands its presence in Saudi Arabia
El Salvador’s diplomatic mission in Saudi Arabia organized a Salvadoran coffee tasting to strengthen trade ties with that market and position the country as a tourist destination among business leaders, government officials, and diplomatic representatives of the kingdom. The Salvadoran ambassador highlighted the growing Saudi interest in specialty coffee culture, presenting El Salvador as a country that combines coffee-growing tradition, cultural richness, natural beauty, and trade opportunities. Saudi Arabia remains one of the main destinations for Salvadoran coffee, with purchases reflecting a positive assessment of the national coffee bean and an average price per kilogram that demonstrates recognition of its quality in that market. The initiative is part of El Salvador’s diplomatic strategy to diversify export markets toward the Middle East, a region with high purchasing power and growing demand for specialty products and unique tourism experiences. This expansion of trade and tourism ties with Saudi Arabia strengthens El Salvador’s international standing and opens new export opportunities for the national coffee sector in high-value markets.
El Salvador boosts its electricity exports and strengthens its integration into the regional market
El Salvador’s electricity exports registered significant growth in the first five months of 2026, positioning the country as a net electricity exporter in the Central American regional market through the Central American Electrical Interconnection System. Guatemala consolidated its position as the main destination for Salvadoran energy, followed by Nicaragua, Costa Rica, and Panama, reflecting El Salvador’s growing integration into the regional electricity market, where exchanges are carried out at competitive prices. This dynamic energy export coincides with the progress of the transition to renewable energy sources in the country, which already has solar energy as its main source of installed generation capacity, generating surpluses that can be traded in the region. El Salvador’s participation in the regional electricity market strengthens Central American energy security and opens investment opportunities in renewable generation with export potential. This performance consolidates El Salvador’s position as a key player in regional energy integration and strengthens its attractiveness for investment in electrical infrastructure and clean energy sources.
Guatemala Receives a Visit from Fitch Ratings on Its Path to Investment Grade
Guatemala will receive a visit from the international rating agency Fitch Ratings to evaluate the country’s macroeconomic performance and verify the strength of its economic indicators. Authorities consider this mission strategic for consolidating investor confidence and strengthening the country’s position in international financial markets. The visit takes on special significance following the upgrade of Guatemala’s sovereign rating in October 2015, when Fitch recognized the country’s solid economic growth, prudent economic policy management, and current account surpluses as strengths. The mission will also assess the progress of the reforms outlined in the roadmap entitled “Guatemala: A Path to Investment Grade,” an initiative through which the government seeks to strengthen the country’s competitiveness and improve its credit profile in global markets. The Minister of Finance expressed optimism about the evaluation results, noting that sovereign bond issuances have already been well received by investors who value the stability and favorable outlook of the Guatemalan economy. This evaluation process reinforces Guatemala’s trajectory towards greater integration with international financial markets and consolidates its attractiveness as an investment destination in the region.
Guatemala Takes Historic Step Toward Electric Mobility with the Renewal of Public Transportation in the Capital
The Guatemalan government announced the acquisition of approximately 300 electric buses in 2027, as part of a comprehensive urban mobility strategy developed in partnership with Taiwan. This strategy aims to transform the public transportation system in the metropolitan area and surrounding municipalities. The plan includes the creation of a Central Integration Station that will link the various transportation systems, including connections with the Guatemala City Municipality’s AeroMetro project, within the framework of the Transportation Master Plan developed with support from the Korea International Cooperation Agency. To facilitate financing for the fleet renewal, the Ministry of Finance is promoting a Guarantee Fund that will generate significant financing capacity for interested transportation operators. This will not function as a direct subsidy but rather as a state guarantee that improves credit conditions. The incorporation of electric buses will considerably reduce fuel costs compared to diesel units, in addition to decreasing polluting emissions and improving service reliability. The Government is also seeking to attract an international manufacturer to set up a bus assembly plant in Guatemala, which would generate employment, technology transfer, and development of local suppliers with a projection towards the entire Central American region.
Guatemala Plans an Ambitious Infrastructure and Development Investment Agenda for 2027
Guatemala’s Ministry of Finance presented the preliminary budget ceiling for 2027, featuring a significant portfolio of major projects focused on road infrastructure, port modernization, rural electrification, housing, and transportation, reflecting the government’s commitment to the country’s economic and social development. Among the flagship projects is the expansion and modernization of Puerto Quetzal, which will strengthen the country’s logistics capacity, improve the competitiveness of foreign trade, and create a Fund for Priority Road Projects designed to accelerate strategic connectivity projects nationwide. The budget also allocates resources for the so-called Development Routes, a First-Time Homebuyer Fund, and the modernization of the metropolitan transit system and airports. On the fiscal front, the government projects that tax revenues will grow faster than public spending in 2027, helping to maintain more balanced and sustainable public finances. This long-term vision for public investment reinforces Guatemala’s appeal to the private sector and foreign investment in infrastructure, logistics, and services that complement the country’s development.
Guatemala strengthens economic analysts’ confidence with stable growth prospects
Perceptions of the Guatemalan economy’s performance improved in June 2026, with the Economic Activity Confidence Index registering its highest level compared to the same month of the previous year, according to the Bank of Guatemala’s Economic Expectations Survey. Analysts on the panel project solid economic growth for both 2026 and 2027, with inflation expectations contained within moderate and stable ranges that favor business planning and long-term investment. Among the factors that specialists identify as drivers of growth are public and private investment, the strengthening of the domestic market, and the prudent management of monetary and fiscal policy. The upward revision of growth for the first quarter of 2026 reinforces the perception that the Guatemalan economy is expanding at a positive pace, supported by solid macroeconomic fundamentals. This environment of growing confidence and stable expectations strengthens Guatemala as a predictable and attractive economy for national and international private investment.
Honduras on Track for Record-Breaking Coffee Harvest
Honduras’ 2025-2026 coffee harvest is poised to surpass all previous records in foreign exchange earnings, with exports already exceeding two billion dollars before the season’s end. This growth is driven by significant increases in export volume compared to the previous harvest, according to the Honduran Coffee Institute. The rise in exports is primarily due to higher domestic production, reflecting the benefits of improved agricultural practices, favorable weather conditions, and the strengthening of the Honduran coffee sector in recent years. Sales contracts already exceed the levels of the previous season, with thousands of quintals awaiting exports, guaranteeing record-breaking figures for the sector by the end of the year. The main destinations for Honduran coffee are the United States, Germany, and Belgium—high-value markets that appreciate the quality and origin of the beans produced in the country’s mountains. This historic performance consolidates coffee as Honduras’ main export product and reinforces the country’s attractiveness for investment throughout the coffee sector’s value chain.
Honduras Is Evaluating a New Agreement with the IMF to Strengthen Its Credibility and Track Record of Reforms
The Honduran government is exploring the possibility of negotiating a new program with the International Monetary Fund once the current agreement expires, as part of a strategy to maintain multilateral support and consolidate international markets’ confidence in the country’s economic management. President Nasry Asfura’s administration has already sent a letter of intent to the IMF’s managing director, the first formal step toward opening talks on a new financial support program that could last between eighteen and thirty-six months. The president of the Central Bank emphasized that the IMF’s support is not only a source of financing but also a sign of credibility to the outside world, underscoring the soundness of the economic policies implemented by the government. The IMF recognized the solid performance of the Honduran economy, fiscal discipline, the strengthening of international reserves, and progress on structural reforms as positive elements of the current program. This move toward a new agreement reaffirms Honduras’ commitment to macroeconomic stability and strengthens the conditions for attracting private investment and sustaining economic growth in the coming years.
Honduras Maintains a Stable Monetary Policy and Creates Favorable Conditions for Investment
The Central Bank of Honduras confirmed that it does not plan to raise the monetary policy rate in the short term, maintaining a stance aligned with the U.S. Federal Reserve’s strategy, which promotes the stability of the financial system and the country’s productive activities. The president of the Central Bank of Honduras (BCH) emphasized that maintaining a prudent monetary policy helps keep inflation expectations in check, bolsters private-sector confidence, and creates an environment conducive to domestic and international investment. The IMF’s endorsement, through its approval of revisions to the economic program, was described as an important vote of confidence in the country’s economic management, strengthening Honduras’ credibility and facilitating access to financing on more favorable terms. The funds obtained through the agreement with the IMF will be directed primarily toward financing public investment and infrastructure projects, which are considered essential for stimulating economic growth and strengthening national competitiveness. This environment of macroeconomic stability and multilateral support consolidates Honduras’s position as an attractive destination for private investment and reinforces international markets’ confidence in the country’s economy.
Honduras is making progress in strengthening its air connectivity and consolidating tourism as an economic driver
Honduras’s Minister of Tourism highlighted the growth in visitor arrivals as an opportunity to boost the national economy, noting that strengthening air connectivity is a strategic priority for maximizing tourism’s impact on foreign exchange earnings. The government recently signed agreements under the Air Facilitation Roundtable for regional flights, a concrete step toward expanding air operations in the country that will benefit both inbound tourism and business connectivity. Authorities emphasize that the institutional strengthening driven by President Nasry Asfura’s administration is a key element in creating the conditions needed to attract more airlines and consolidate Honduras as a regional tourist destination. The minister emphasized that the sector’s development requires joint efforts between the government and the private sector, including job creation, the promotion of cities, and the development of activities that enhance the appeal of destinations such as Tegucigalpa. This comprehensive approach—combining connectivity, institutional capacity, and private investment—reinforces Honduras’ strategy to consolidate tourism as one of the most dynamic drivers of its economy.
Nicaragua Maintains Sustained Economic Growth in the First Four Months of the Year
Nicaragua’s economy continued its positive performance during the first four months of 2026, with cumulative growth reflecting the continuation of the economic expansion that began in previous quarters, according to the Central Bank of Nicaragua’s Monthly Index of Economic Activity. Construction consolidated its position as the main driver of productive activity in April, followed by commerce, tourism and hospitality, the livestock sector, and telecommunications, demonstrating a diversified growth base in sectors with a high impact on employment and domestic consumption. Financial intermediation also registered positive growth, reflecting the dynamism of credit and the strength of the banking system as a support for the country’s economic growth. The average annual variation remains at levels that place Nicaragua among the most dynamic economies in the Central American region, supported by key productive sectors that generate employment and foreign exchange. This performance confirms the resilience of the Nicaraguan economy and the favorable conditions it offers for investment in construction, trade, agribusiness, and financial services.
BLP INSIGHT
Honduras Enacts New Law to Strengthen Protection of Strategic Investment Projects
The new legal framework strengthens protections for strategic sectors in Honduras, including agribusiness, energy, tourism and livestock. The legislation designates these projects as being of national interest, streamlines permitting processes and reinforces measures to ensure operational continuity in the face of invasions, blockades and other disruptions. It also guarantees the free movement of equipment, fuel and other essential inputs while extending these protections to the energy sector. These measures enhance legal certainty for investors and support the development of strategic projects across the country.
Risks in Mergers and Acquisitions, and the New Standard of Due Diligence
A due diligence process with no legal or regulatory findings is not always enough to ensure the success of a transaction. Media checks help identify reputational risks through open-source information, including news coverage, public records and the digital footprint of the parties involved, uncovering potential issues that may affect the investment decision, the transaction structure or the contractual protections required.
ECONOMIC INDEX
| Country | Exchange Rate (local currency per USD) | Basic Passive Rate (local currency) | Monetary Policy Rate | Sovereign Debt | Year-on-Year Inflation | ||
|---|---|---|---|---|---|---|---|
| S&P | Moody’s | Fitch | |||||
| Costa Rica | 455.10 | 3.65% | 3.25% | BB | Ba2 | BB | -0.31% |
| El Salvador | 8.75 | 4.66% | N/A | B- | B3 | B- | 2.76% |
| Guatemala | 7.62 | 4.70% | 3.50% | BB+ | Ba1 | BB+ | 2.27% |
| Honduras | 26.75 | 6.49% | 5.75% | BB- | B1 | N/A | 6.09% |
| Nicaragua | 36.62 | 1.44% | 5.75% | B+ | B2 | B | 3.72% |
10/07/2026 | Source: secmca.org
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