Business and Economy

El Salvador credit ratings

El Salvador Credit Ratings in 2023. Moody’s affirms Caa3 rating but changes the outlook to stable

El Salvador’s Credit Ratings in 2023 are Caa3 with a stable outlook with Moody’s, CC with no outlook with Fitch’s rating, and CCC+ with a negative outlook with Standard & Poor’s. The latest Salvadoran credit rating update was done by Moody’s Investors Service (“Moody’s”) on February 3, 2023. Moody’s maintained … Read more

Bitcoin in El Salvador

74 percent of Salvadorans did not use Bitcoin in 2022

74 percent of Salvadorans stated that they had not used bitcoin throughout 2022 to either make purchases or make payments. This is according to the latest survey by the University Institute of Public Opinion (IUDOP) of Jose Simeon Cañas Central American University (UCA). The data shows that most Salvadorans believe … Read more

El Salvador Economic Growth

El Salvador’s Economic growth for 2023 is expected to be around 1.6%, according to ECLAC

El Salvador’s economic growth for 2022 is expected to be around 1.6%, according to a report by the Economic Commission for Latin America and the Caribbean (ECLAC) released on December 15, 2022. The overview of the Economies of Latin America and the Caribbean is a report that examines the behavior … Read more

Financial Exclusion Survey

2022 Survey on El Salvador’s financial inclusion

The Salvadoran Central Reserve Bank (BCR) presented the results of a survey regarding the financial inclusion of the Salvadoran population. The surveys asked Salvadorans about savings accounts, loans, insurance, having retirement or pension accounts, Cryptocurrencies, and using traditional or digital financial channels. Financial inclusion is a problem affecting the majority … Read more

El Salvador Bitcoins

President Bukele announces that El Salvador will buy one Bitcoin a day!

President Nayib Bukele announced Wednesday night, November 16, that El Salvador will buy one bitcoin every day starting tomorrow (November 17). The cryptocurrency faces its lowest prices in two years. “We are buying one Bitcoin every day starting tomorrow,” wrote the president on his Twitter account. As of June 39th, … Read more