Sovereign debt restructuring daddy Lee Buchheit once told FT Alphaville that the “pathological procrastination” of financially stricken countries that should simply accept the inevitable and default was a “testament to the belief in the efficacy of prayer”. That...
Nayib Bukele, El Salvador’s president, has always presented himself as a maverick. He is not afraid to go against the traditional ways of doing things, to — as he would have you believe it — improve the situation of his country. But in financial markets, he is...
The lawyers for Mauricio Ramírez Landaverde, the former director of the Salvadoran police who helped uncover the political dealings that the leadership of the MS13 and Barrio 18 gangs made with officials of President Nayib Bukele, have asked a judge to authorize...
The pact that Nayib Bukele, the popular Salvadoran president, made with gang leaders before taking office for the first time in 2019 has come to light again in the Long Island, New York court, where the first hearing in the trial against the MS13 gang has been held....
El Salvador went to international markets to issue debt on April 11, seeking $1,000 million and managed to obtain $908 million at an “implicit rate of 12%” for six years and with principal payments every two years. This issuance also involved a coupon...
In its most recent report on El Salvador, titled “Kicking the Can, but up a Steeper Hill,” the investment bank Barclays has concluded that while the repurchase of some of its bonds has provided relief for 2025 and 2026, the Government of El Salvador will...
