El Salvador’s bonds have skyrocketed following the announcement made by the spokesperson for the International Monetary Fund (IMF), Julie Kozack, that they will continue working with the government of Nayib Bukele Ortez, regarding financing programs.
The specialized magazine Bloomberg published this text: “El Salvador’s dollar bonds rose along the curve on Friday, outperforming most of its emerging peers, as a spokesperson for the International Monetary Fund said that talks with the country about a financing program are on the way,” and Salvadoran President Bukele Ortez himself shared on his X account.
The article explains that the country’s bonds due in 2032 rose 1.4 cents on the dollar to 0.86 cents on Friday, which is the highest since mid-February. Even bonds maturing in 2035 rose 1.2 cents on the dollar to 0.79 cents.
With the increase in bonds, there is a faithful reflection that there is interest from debt buyers in El Salvador securities. This is because the Salvadoran economy has recently begun to rebound and proof of this is that we grew more than the United States at the end of 2023.
“IMF technical staff continue to collaborate constructively with the Salvadoran authorities with the goal of reaching an agreement on an IMF-supported program,” Kozack insisted.
He also said that discussions with the Government of President Nayib Bukele focus on policies to strengthen fiscal and external sustainability and boost productivity growth and strength, as well as economic governance, among other topics.
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