The Financial Commission will propose regulation of commission collection for use of POS in businesses

The fifth act of financial justice that will be promoted will be to regulate the charging of commissions for the use of credit or debit card readers (POS, Point of Sale, for its acronym in English) that banks make to each commercial establishment. Seguir leyendo The Financial Commission will propose regulation of commission collection for use of POS in businesses

El Salvador was chosen as the host country to address global financial inclusion issues

The government of President Nayib Bukele generates all the conditions to guarantee legal security and economic stability, as well as development in the country.

In this context, in El Salvador, the event «Digital Financial Services and Financing of SMEs» is held, which hosts 44 countries attached to the Alliance for Financial Inclusion (AFI, for its acronym in English), which will discuss for four thematic days on financial inclusion, digital economy, bankarization, as well as bitcoin in El Salvador, and other related topics.
Seguir leyendo El Salvador was chosen as the host country to address global financial inclusion issues

El Salvador’s default risk is zero

This morning, the Minister of Finance, Alejandro Zelaya, presented two notices to the Attorney General of the Republic for alleged crimes against the treasury, as part of the Anti-Evasion Plan, launched in October 2019. During his stay in the place, he explained that El Salvador’s risk of default is zero.

The Minister assured that he has repeatedly talked with all the interested parties about El Salvador’s capacity to always fulfill its commitments. An example of accountability that characterizes the government of President Nayib Bukele. Seguir leyendo El Salvador’s default risk is zero

El Salvador officially becomes a full member of the Development Bank of Latin America

On this day, the Extraordinary Assembly of Shareholders of the Development Bank of Latin America approved the incorporation of the country as a full member, making us the first State to join directly.

The accession of El Salvador takes place within the framework of the meetings of the Board of Directors and the Assembly of Shareholders of the Development Bank of Latin America, held in Asunción, Paraguay, with the aim of defining strategies and analyzing operations for the benefit of Latin America, from the view of the organism. Seguir leyendo El Salvador officially becomes a full member of the Development Bank of Latin America

President Nayib Bukele will send the first 10 legal reforms to accelerate business and attract international investment

The President of the Republic, Nayib Bukele, assured this Sunday night that next week he will send to the Legislative Assembly a first package of 10 legal reforms to speed up business and attract foreign investment. These will be the first of a total of 52 that the president announced last February.

President Bukele’s announcement came as a response to a tweet from an international bitcoiner who inquired about how the process of the 52 reforms announced by the president was progressing. When asked, Bukele assured that next week the first 10 will be sent for discussion and approval in the Legislative Assembly. Seguir leyendo President Nayib Bukele will send the first 10 legal reforms to accelerate business and attract international investment

Bitcoin and improved security to attract foreign investment. The Minister of Finance of El Salvador statement at the headquarters of the Spanish employers’ association (CEOE) in Madrid

The Minister of Finance of El Salvador, Alejandro Zelaya, defended this Monday in Spain his country’s commitment to the bitcoin cryptocurrency and the improvement of security in recent years to attract foreign investment.

At the headquarters of the Spanish employers’ association (CEOE) in Madrid, Zelaya explained the attractions of the Central American country to Spanish companies that wish to establish themselves in their country, which has incentives and tax exemptions for foreign investment. Seguir leyendo Bitcoin and improved security to attract foreign investment. The Minister of Finance of El Salvador statement at the headquarters of the Spanish employers’ association (CEOE) in Madrid

El Salvador’s $1 billion Bitcoin bond called a «meme» by Fitch Credit Agency even when has raised over $500 mil in verbal commitments

Bitcoiner Dennis Porter tweeted that El Salvador had raised $500 million for their Bitcoin bond program. The $500 million raised is in the form of verbal commitments and doesn’t constitute final pledges according to Blockstream’s Chief Strategy Officer, Samson Mow.

«CCC National Ratings denote a very high level of default risk relative to other issuers or obligations in the same country or monetary union.» Chiming in, an unnamed financial executive paid a backhanded compliment, saying the volcano bond, while lacking fundamentals, still has novelty appeal as a «meme» bond.
Seguir leyendo El Salvador’s $1 billion Bitcoin bond called a «meme» by Fitch Credit Agency even when has raised over $500 mil in verbal commitments

Salvadoran foreign trade figures set a record for January 2022

The Central Reserve Bank of El Salvador posted on twitter the foreign trade figures for the month of January 2022. Among the aspects that stood out was the 31.6% growth in imports compared to January 2021 and the historical record in imports. export figures during the first month of this year. Seguir leyendo Salvadoran foreign trade figures set a record for January 2022

US Senate, Foreign Relations Committee intromission backfires now that El Salvador considers raising $5 Billion through additional Bitcoin bonds

Senators Jim Risch, Bill Cassidy and Bob Mendez asked the State Department to submit a report on the implementation of bitcoin in El Salvador with the purpose of assessing the risks it poses to the U.S. economy.

The entire situation backfired to the Foreign Relations Committee now that interest in Volcano Bonds has skyrocketed and the country is considering to add an additional $5 billion in Bitcoin-backed bonds. Seguir leyendo US Senate, Foreign Relations Committee intromission backfires now that El Salvador considers raising $5 Billion through additional Bitcoin bonds

Salvadoran Ambassador presents credentials to the President of Lithuania.

The ambassador of El Salvador in Sweden and concurrent to Latvia, Estonia, Lithuania, Denmark, Iceland, Finland, and Norway, Patricia Godnez, held an important meeting with the Latvian president, Egils Levits, to whom she presented her diplomatic credentials.

At the meeting, they discussed the possibility of reinforcing cultural and economic projects between the Baltic region and El Salvador, betting on understanding between both nations. Seguir leyendo Salvadoran Ambassador presents credentials to the President of Lithuania.