President Nayib Bukele announced that a bond recall program will be launched to put an end to concerns that the country will default.
According to a Bloomberg report, the president of El Salvador Nayib Bukele, 2023 and 2025 all futures government bonds call back submitted a draft to parliament.
According to experts, the aim of this move by Bukele is to constantly attack El Salvador. Bitcoin (BTC) recommending that it not be legally recognized and used International Monetary Fund (IMF), traditional credit markets and rating companies arising from the tension between El Salvador and prevent default speculation.
According to the export data, 2023 term USP01012AJ55 annual coupon rate of a coded dollar bond 7.75% if efficiency 75.75% If the total size of the bond is 800 million dollars and 2025 term USP01012AS54 coupon rate of a coded dollar bond 5.87% if efficiency 55.8% If the total size of the bond is 800 million dollars. Both bonds were previously B- when you have a credit score 09/02/2022 credit rating agency Fitch Ratings by three levels by suddenly dropping CCC (There are serious risks in paying the interest and principal of the investment). According to Bukele, El Salvador will be able to recall all its debt by 2025. has liquidity. As soon as the paperwork is completed after the bill is approved six weeks The purchasing operation will begin and President Bukele announced that all bonds will be purchased in cash and at market price.
Bitcoin reserves, which are the reason for El Salvador’s conflicts with traditional markets, are about 54% with a drop $103.9 million corresponds. in decline $55.8 million The average cost of losing El Salvador’s Bitcoin reserves is 45,171 dollar levels. President Bukele’s last move bitcoin city had a plan.