Business and Economy
El Salvador Bitcoin Holdings: Government Increases Reserves to 6,134 Coins, Worth About $519 Million
SAN SALVADOR — El Salvador continues to acquire Bitcoin for its strategic reserves and has 6,134 Bitcoins with a current economic value of about $519.1 million—$84,622 per coin at today’s prices. The National Bitcoin Office of El Salvador (ONBTC) published … Read more
El Salvador Legal Currency: The Country’s Currency System—U.S. Dollar, Bitcoin, and the Colón
If you’re planning a trip or conducting business in El Salvador, understanding its monetary system is crucial. Key questions to know the answer to include: What currency is accepted? Can you use a credit card to make payments? Are ATMs … Read more
Central Reserve Bank: El Salvador’s Foreign Direct Investment Declines by 10.9% in 2024
SAN SALVADOR, El Salvador – Net foreign direct investment in El Salvador fell by 10.96% in 2024, totaling $639.63 million, the Central Reserve Bank (BCR) reported. Net foreign investment declined by $78.7 million compared to 2023, signaling shifting economic trends … Read more
El Salvador’s Economy Grows 2.6% in 2024: A Year of Mixed Performance
El Salvador’s economy grew by 2.6% in 2024, according to data released by the Salvadoran Central Reserve Bank (BCR). The growth signals indicate continued economic growth, but the increase fell short of last year’s predictions; the Central Reserve Bank predicted … Read more
Digital Commerce Grows in El Salvador, but Fear and Cybersecurity Challenges Remain
SAN SALVADOR, El Salvador — According to CAMARASAL, the Technology Committee of the Chamber of Commerce and Industry of El Salvador, 22 percent of commerce in El Salvador is conducted digitally, signaling a growing shift toward e-commerce in the country. … Read more
Bitcoin Adoption in El Salvador: A Transformational Journey
El Salvador was the first nation in the world to adopt Bitcoin as legal tender in 2021. This bold move sparked global debate, with Bitcoin proponents heralding it as a revolution in global finance, while critics question the implications for … Read more
The International Monetary Fund “IMF” Approves $1.4 Billion Financing Program for El Salvador
Today, the International Monetary Fund (IMF) Executive Board approved a $1.4 billion financing program for El Salvador, providing immediate economic support to the country; it includes an initial disbursement of $113 million. According to the IMF, the program aims to … Read more
El Salvador Begins Construction of New Airport in the Eastern Region: A Game-Changer for Regional Development
Yesterday, President Nayib Bukele symbolically began the construction of phase one of the Pacific Airport by laying the first stone of the project. This airport is one of his flagship projects, which seeks to revitalize the eastern part of the … Read more
El Salvador’s Airport of the Pacific: Transforming Travel in the Country’s Eastern Region
El Salvador’s Airport of the Pacific is the new airport set to be built in Conchagua, la Union, in the eastern part of El Salvador, near the Gulf of Fonseca. The new airport in Conchagua began as President Nayib Bukele’s … Read more