El Salvador declared on Monday the initiation of a public debt buyback offer set to encompass debts maturing from 2025 to 2029. The official announcement came from President Nayib Bukele via the social media platform X, in the late hours of the afternoon.
«Today we have launched the REPURCHASE offer of our EXTERNAL DEBT, which matures from 2025 to 2029. Everyone holding bonds of the Republic of El Salvador can access this public and voluntary buyback,» President Bukele posted.
In September of the previous year 2022, Bukele also unveiled an offer to repurchase external debt maturing from 2023 to 2025, an initiative aimed at saving between $100 million and $150 million for the Salvadoran government. This move aimed to refute misinformation circulated by international media regarding a potential default by the country.
In August of the same year 2022, the Legislative Assembly approved various initiatives designed to enable the Executive Branch to engage in the early purchase of Salvadoran sovereign debt bonds maturing in 2023 and 2025.
These strategies seek to alleviate the national economy and provide a revaluation of Salvadoran bonds in the international market. These maneuvers have already been commended by international organizations and complement President Bukele’s government strategies to address the country’s external debt and enhance the Salvadoran economy.