Weekly Report - 04 August 2022 (WR-22-31)

El Salvador’s Bukele moves to quell fears of default

President Nayib Bukele has sought to address concerns that El Salvador is heading for a default amid mounting alarm about the country’s finances. This has been exacerbated by the country’s adoption of cryptocurrency bitcoin as legal tender nearly a year ago and its impact on access to multilateral funds and investor confidence.

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