el salvador president Nayab Bukele Traditional international news outlets have been criticized for their reports on the country’s debt situation.
What happened: Bukele said that legacy international news outlets wrongly attributed El Salvador’s debt situation to Bitcoin BTC/USD Condition.
He added that however several outlets reported that El Salvador was at risk of defaulting on its 2023 bond without a settlement. International Monetary FundI, the country had repaid its $800 million debt “in full … with interest”.
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“They lie and lie, and when their lies are exposed, they go into silent mode,” he said.
El Salvador’s presidency press office told Reuters that the payment, which followed earlier transactions, included $604.1 million and $23.4 million in interest. “El Salvador is meeting its debt obligations,” it said.
according to a report by BloombergThe optimism that El Salvador can avoid default is showing in the numbers: Its dollar debt has risen an average of 23% so far this year, the best performance of any emerging economy tracked by a major Bloomberg index. This month, El Salvador was able to secure a $450 million loan from the Central American Bank for Economic Integration, helping to ensure El Salvador’s ability to meet future bond maturities through 2025.
Meanwhile, on 11 January the El Salvador Legislative Assembly unanimously approved the law regulating Issuance of digital assets, opening up the possibility of issuing government-backed bitcoin bonds.
Price Action: BTC was trading at $23,083, up 1.45% over the past 24 hours. According to Benzinga Pro.
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