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295 sats \ 0 replies \ @sandbeach123old 27 Jul 2022 \ parent \ on: El Salvador Plans To Buy Back It’s Own Debt bitcoin
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.
https://www.nasdaq.com/articles/will-el-salvador-default-on-its-sovereign-debt-in-2023
https://tradingeconomics.com/el-salvador/external-debt
https://tradingeconomics.com/el-salvador/government-debt-to-gdp#:~:text=Government%20Debt%20to%20GDP%20in,of%2036.23%20percent%20in%201998.
https://tradingeconomics.com/united-states/government-debt-to-gdp