145 sats \ 1 reply \ @kr OP 26 Jul 2022 \ parent \ on: El Salvador Plans To Buy Back It’s Own Debt bitcoin
do you know how much they’re subsidizing their oil?
i recall seeing a while back that if you pay with chivo you get a discount on gas prices at the pump, is this the subsidy you’re referring to or something else?
+1 for someone who can share detailed financial data on El Salvador
Debt expiry jan 2023 $800M, total reserves $3,4B. The rest of the debt (future years) is about $17B-20B. The main problem is the debt/gdp which is now about 90%, but unlike the US (debt/gdp at 127%), El Salvador cannot print its main currency (dollars).
So that 90% number is not so bad if you are the US, EU, JP or UK, but it's terrible if your currency is weak, or if you have a strong currency but you don't have control over it.
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