© Reuters. FILE PHOTO: El Salvador’s Finance Minister Alejandro Zelaya speaks throughout a information convention in San Salvador, El Salvador March 18, 2022. REUTERS/Jose Cabezas
SAN SALVADOR (Reuters) – El Salvador has repaid an $800 million bond, Finance Minister Alejandro Zelaya stated on Monday, the identical day the bond was set to mature, because the Central American nation confronted strain to make progress in reducing debt.
“We announce that we’ve right this moment accomplished cost of the 2023 bond for $800 million, plus curiosity,” Zelaya stated on Twitter, denouncing a “disinformation marketing campaign” in nationwide and worldwide media.
The presidency’s press workplace informed Reuters the cost, which adopted an earlier transaction, included $604.1 million and curiosity of $23.4 million. “El Salvador is assembly its debt obligations,” it stated.
President Nayib Bukele has confronted strain to display wholesome funds after he championed El Salvador’s adoption of bitcoin as authorized tender alongside the U.S. greenback in 2021.
In September, scores company Fitch downgraded El Salvador’s sovereign debt to “CC” from “CCC”, describing a debt default as possible.