I'm pretty sure they took a loan from a more local institution, the interamerican bank for development or something like that for about $450M. They had also bought back some $200M of their debt since late last year so the repayment today was closer to $600M plus interest. Combined with the loan and just regular government revenues, it seems entirely possible that they haven't issued bonds of any kind
looks like they paid off $800m of debt, rather than issuing $800m of debt.
Surely they issued 800m of new debt to pay off the old loan? I'm wondering who put up the cash for the new debt
Not necessarily. $800 million is $130/person, out of a GDP of $4600/person×year. Plausible they actually paid off that debt.
I'm pretty sure they took a loan from a more local institution, the interamerican bank for development or something like that for about $450M. They had also bought back some $200M of their debt since late last year so the repayment today was closer to $600M plus interest. Combined with the loan and just regular government revenues, it seems entirely possible that they haven't issued bonds of any kind
This article says they got a loan from "Central American Bank for Economic Integration": https://www.bloomberg.com/news/articles/2023-01-24/bukele-says-el-salvador-repaid-maturing-bond-dodging-default
Thanks! No idea who they are, but almost certainly a better setup than the IMF.
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This is awesome. Even if they had to take another loan, just being free from the shackles of IMF is good enough. Now they can repay on better terms.
Hopefully the terms are better, yeah.
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