Business & Economy


El Salvador Bitcoins

El Salvador Buys 150 More Bitcoin During Cryptocurrency’s Dip


President Nayib Bukele announced on Friday, December 3rd, that El Salvador had purchased an additional 150 Bitcoins. Bukele announcement came as the cryptocurrency plunged to a two-month low below $50,000. “El Salvador just bought the dip! 150 coins at an average USD price of ~$48,670,” wrote President Bukele in his Twitter account. December’s purchase by … Read more

International Monetary Fund

2021 International Monetary Fund Report on El Salvador’s Economy


The International Monetary Fund (IMF) reported this Monday, November 22nd, that it completed the review of Article IV regarding the economic behavior and outlook for El Salvador. The published report focused on El Salvador’s policies to secure inclusive growth, improve fiscal sustainability, ensure financial stability, and reinforce economic governance. The reports mention good things done … Read more

IMF

El Salvador Needs Policy Changes to get IMF Financing – IMF Spokesman


Gerry Rice, IMF spokesman stated in a November 4, 2021, press conference that to get financing with the International Monetary Fund, El Salvador’s government needs to change some of its policies. Talks between the Salvadoran government and the International Monetary Fund (IMF) to seal a loan valued at 1.3 billion dollars began last April. “The … Read more

Salvadoran Construction Company

El Salvador’s small business owners uncertain about Bitcoin


On Tuesday, June 8, Salvadoran Congress passed a new law making El Salvador the first country in the world to classify bitcoin as a legal currency. The lawmakers, with 62 out of 84 votes, approved President Nayib Bukele’s proposal to embrace cryptocurrency. The Salvadoran government believes Bitcoin will… Read More

El Salvador Ferry

El Salvador Ferry, a strategic project to facilitate trade with Costa Rica


El Salvador Ferry is a strategic project by the Nayib Bukele administration to strengthen the commercial exchange between Costa Rica and El Salvador. Once completed, the ferry would connect the Port of La Unión in El Salvador and the Caldera Port in Costa Rica. In early March 2021, officials of the Government of President Nayib … Read more