11 October 2024

El Salvador placed all their almost US$7.2b debt for tender as part of a broader program to manage its external public finances. The state has reserved the right to accept or reject any offer it receives. All debt bought will be paid through a special purpose entity provided by JPMorgan Chase. Locked in talks with the IMF over a US$1.4bn agreement, with the future of cryptocurrency a major sticking point, the Secretaría Ejecutiva del Consejo Monetario Centroamericano (Secmca) has suggested El Salvador’s GDP could improve by 1% due to improvements in security.

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