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LatinNews Daily - 24 January 2023
In brief: El Salvador’s Bukele claims debt repayment
*El Salvador’s President Nayib Bukele has tweeted that El Salvador has repaid an US$800m bond and its interest, the same day that it was set to mature and that the country had met its debt obligations. This comes amid fears that El Salvador would default on its debt amid a precarious fiscal situation stemming in large part from the lack of access to external finance following El Salvador’s adoption of cryptocurrency bitcoin as legal tender in September 2021. The country’s adoption of bitcoin has remained highly controversial and been ill-received by international financial institutions like the International Monetary Fund (IMF) and credit ratings agencies.
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