-
Bitcoin Resilience in El Salvador: The Strategic Reserve Growth Proceeds as the Country Signs an Agreement with the IMF.
The International Monetary Fund has come to an agreement with El Salvador to give the country $1.4 billion as the first installment of $3.5 billion to help support the country’s economy. The agreement is, however, subject to the approval of the IMF’s executive board and contains some changes relating to bitcoin including, making it optional for the private sector to accept bitcoin and reducing the role of the public sector in the cryptocurrency.
However, the government of El Salvador has shown that it is still determined to embrace the bitcoin policy. Stacy Herbert, the Director of the National Bitcoin Office (ONBTC) said that bitcoin will remain legal tender and that the Strategic Bitcoin Reserve will be increased. The government also revealed the acquisition of one more bitcoin thus taking the total number of coins to 5,968. With bitcoin rising to $108,268.45 per unit in the recent market, the reserve value has reached more than $642 million with 140% return on investment and $370 million in unrealized gains.
Besides of the current activities, such as education programs, training of civil servants on bitcoin, and developing capital the market, the global confidence in El Salvador’s bitcoin assets has also improved the bond prices of the country thus strengthening its financial standing and putting it in the forefront of countries that accept bitcoin.
-
From Los Angeles to Stockholm: Salvadoran Scholar Shines at Nobel Future Leaders Program.
Representatives of El Salvador’s diaspora continue to make their homeland proud, showcasing their dedication, talent, and potential on the global stage. One remarkable example is Hunter Doradea, a Salvadoran-American from Los Angeles, USA.
After years of excelling as a fencer, model, and student, Doradea has added another impressive achievement to his growing list of accolades: his selection for the Nobel Future Leaders Scholar (FNLS) program.
The initiative, created by the Forum on Education Abroad and the Nobel Prize Museum, identifies exceptional university students from around the world to collaborate on innovative solutions to pressing global challenges. Doradea was one of only 11 participants chosen for this elite program, which includes project-based coursework, international field studies, and active learning opportunities.
As part of the program, Doradea participated in the Nobel Week Dialogue held in Stockholm, Sweden, from December 5-12. There, he presented the AI-driven project that earned him this prestigious scholarship. His initiative leverages artificial intelligence to aid war-torn countries in rebuilding and preserving infrastructure.
“Many times, infrastructure deteriorates because people lack the capacity to maintain and operate it,” Doradea explained. His project introduces AI-powered avatars of engineers, educators, and humanitarian workers who act as virtual mentors, providing essential knowledge to foster self-sufficiency and sustainable development.
The inspiration for this project came from his mother’s experiences during El Salvador’s civil war, which forced her to leave the country in search of better opportunities in the United States. “I am committed to ensuring that others don’t face the same obstacles,” Doradea shared in an interview with Columbia University, where he is pursuing a dual degree in Computer Science and Film. He is the first student from Columbia to be selected for the FNLS program.
Lisa Rosen-Metsch, Dean of Columbia University, praised Doradea’s achievement: “We are incredibly proud of Hunter’s accomplishments. He is an exceptionally creative student with a highly innovative and impactful project. I have no doubt he will make extraordinary contributions to society through his public service, technological advancements, and policy-focused initiatives.”
During his time in Sweden, Doradea was accompanied by El Salvador’s ambassador to the country, who commended his efforts: “Hunter is a shining example of Salvadoran talent on a global scale. His presentation in Stockholm reaffirms that our youth are the future, and our government is committed to supporting them.”
Hunter Doradea’s story is a testament to the perseverance, creativity, and excellence of El Salvador’s diaspora, as well as the transformative potential of education and innovation.
-
El Salvador and Colombia Exchange Best Practices on Migration and Diaspora Programs.
Delegations from the governments of El Salvador and Colombia convened today to strengthen ties and share insights on best practices in managing diaspora and human mobility programs.
The meeting was attended by Paola Andrea Vásquez, Secretary General of Colombia’s Ministry of Foreign Affairs, and Carlos Rodríguez Bocanegra, Colombia’s Ambassador to El Salvador. Representing El Salvador were officials from the Vice Ministry of Diaspora and Human Mobility.
The Salvadoran delegation presented their key initiatives and achievements, including programs designed to support Salvadoran diaspora communities and returnees. Emphasis was placed on efforts to combat irregular migration by promoting regular, orderly, and safe migration pathways. Officials also highlighted the success of the Labor Mobility Program, supported by USAID, as a key tool in fostering economic opportunities.
During the discussion, both parties acknowledged the importance of exchanging experiences and agreed to maintain an open dialogue for future collaboration. The Colombian delegation expressed strong interest in the initiatives presented and recognized the significance of El Salvador’s progress in expanding its international services for the diaspora.
Following the meeting, the delegations toured key facilities, including the Virtual Consulate, the Digital Observatory on Human Mobility, and the Directorate of Diaspora and Development, which oversees the Labor Mobility Program.
This collaboration reflects both nations’ commitment to addressing migration challenges and enhancing support for their respective diaspora communities through innovative and effective programs.
-
Nayib Bukele’s Blueprint: Security First, Economic Success Follows.
In just five years, President Nayib Bukele has positioned El Salvador on the global stage, with renowned international media highlighting the country’s remarkable transformations in public security and economic growth.
Prominent outlets such as Milenio (Mexico), La Razón and elEconomista (Spain), The Trumpet and The New York Times (United States), among others, have detailed El Salvador’s progress, noting its shift from being one of the most violent nations in the world to the safest in the Western Hemisphere while experiencing significant economic advancements.
Spanish economic publication elEconomista recently emphasized El Salvador’s economic resurgence, citing analysts from JP Morgan who revised the country’s GDP growth potential to nearly 3%, up from the previous 2%. “The improvement has been substantial in recent years,” noted reporters Vicente Nieves and Carlota G. Velloso.
On the topic of security, elEconomista praised Bukele’s Territorial Control Plan (PTC) and the state of exception, which have led to a historic decline in crime rates. “El Salvador has achieved a significant reduction in homicides and other crimes,” the outlet stated, affirming the government’s effective security policies.
Meanwhile, The New York Times named El Salvador one of the top six tourist destinations in the Americas and the Caribbean for winter travel, lauding its warm climate and attractive landscapes. The outlet highlighted the ease of travel for U.S. citizens, including visa-free access and direct flights to major cities such as Houston, Los Angeles, Miami, New York, and San Francisco. The U.S. government’s decision to downgrade its travel advisory to Level 2 further underscores the improved security situation.
The Trumpet, a Philadelphia-based publication, featured an article titled “How a ‘Philosopher King’ Transformed El Salvador,” underscoring Bukele’s successful security strategies, which have drawn admiration from global leaders eager to replicate his methods.
Spain’s La Razón echoed this sentiment, stating that the “results in security are undeniable,” while acknowledging that countries like Argentina, Peru, Honduras, Chile, and Ecuador are exploring the “Bukele Method” to address crime.
Mexico’s Milenio also reported on El Salvador’s transformation, crediting Bukele with dismantling gang activity and establishing the nation as the safest in the Western Hemisphere.
President Bukele has emphasized that, with security challenges addressed, his administration’s focus now shifts toward advancing economic prosperity, further solidifying El Salvador’s new image on the world stage.
-
El Salvador Strengthens Investment Climate Under President Bukele’s Leadership.
The Government of President Nayib Bukele continues to implement strategic initiatives to attract greater national and foreign investment, positioning El Salvador as an appealing destination for capital. These efforts aim to strengthen key economic sectors, create employment opportunities, and promote sustainable economic growth.
Luis Rodríguez, Executive Director of the Metropolitan Area of San Salvador Planning Office (OPAMSS), emphasized the alignment of his institution’s goals with the government’s vision, particularly in improving institutional efficiency and reducing bureaucratic hurdles.
“Our main project focuses on optimizing and creating a new efficiency system for permits and procedures,” Rodríguez stated. He highlighted that a partnership with the Regulatory Improvement Organization (OMR) has significantly improved processing times, cutting response periods by up to 60%, with some processes being resolved even faster.
Rodríguez noted that the policies spearheaded by President Bukele have already created favorable conditions for reevaluating territorial management and driving economic momentum. “We now manage twice the territory, with the inclusion of Libertad Costa and Libertad Este in the Metropolitan Area of San Salvador. As of last week, we unlocked $2.035 billion in private investment,” he reported.
The official underscored that El Salvador’s ongoing transformations provide the ideal environment for continued growth, with 2025 poised to become a landmark year for investment in construction and development.
Through these comprehensive efforts, the Bukele administration reaffirms its commitment to inclusive and sustainable economic development, laying a strong foundation for long-term growth and prosperity.
-
El Salvador Strengthens Support for Returned Migrants Through Entrepreneurship Training.
The Government of El Salvador continues its commitment to improving the quality of life and opportunities for returned migrants and those at risk of irregular migration. Prioritizing initiatives that enable Salvadorans to pursue their dreams within their communities, the Ministry of Foreign Affairs, through its Directorate of Human Mobility and Attention to Migrants, partnered with the organization Fe y Alegría El Salvador to host a graduation ceremony for 32 participants from Santa Ana and San Salvador.
These individuals completed an entrepreneurial skills course as part of the “Actions for the Comprehensive Management of Human Mobility” project. This initiative focuses on equipping returned migrants and at-risk individuals with the tools needed to develop or enhance their business ideas, empowering them to thrive economically and socially in their communities of origin.
Rosa Girón, Director of Human Mobility and Attention to Migrants at the Ministry of Foreign Affairs, highlighted the transformative impact of the program. “The Transforming Lives Program has proven to be a cornerstone in positively impacting our communities, especially for those in mobility situations,” she stated.
She also emphasized the program’s role in helping participants build comprehensive life plans and develop essential entrepreneurial competencies. “Through these intensive sessions, each participant has gained valuable tools to design their life projects and structure business plans that will open doors within their local communities,” Girón added.
The Salvadoran government is committed to creating more social and economic projects to foster development and prevent irregular migration. Girón reiterated the importance of strategic partnerships in achieving these goals, ensuring comprehensive support and reintegration for returned migrants.
The ceremony was also attended by Fabricio Riasco, Deputy Director of Popular Education at Fe y Alegría El Salvador, further underscoring the collaborative effort behind this impactful initiative.
-
El Salvador’s Cruise Boom: Half of Decade’s Arrivals Happened in the Last Two Years.
El Salvador has received more than 50,000 cruise tourists over the past decade, according to data from the Central American Tourism Integration Secretariat (Sitca). From 2009 to 2023, the Central American region and the Dominican Republic hosted over 24,000 cruises, bringing in a combined 49 million cruise tourists.
Sitca’s statistics show that El Salvador welcomed 56,000 cruise visitors on 65 ships during this period, with 32.1% of these arrivals occurring in 2023 alone.
Between 2010 and 2016, cruise arrivals to El Salvador fluctuated between 1,000 and 2,000 tourists annually. In 2017, the numbers surged as the country welcomed eight cruise ships carrying over 7,000 visitors. While 2018 saw a decline, 2019 brought a rebound, with over 8,000 tourists arriving on nine vessels.
The COVID-19 pandemic significantly impacted global tourism, including maritime travel. In 2020, El Salvador received just one ship with 1,000 cruise tourists. Both 2009 and 2021 saw no cruise arrivals at all.
The past two years have marked a recovery, with over 25,000 cruise tourists arriving on 18 ships—almost half of all maritime arrivals since 2009. The most recent cruise to dock in El Salvador was the Crystal Serenity in January 2023, bringing 1,200 tourists who explored local attractions such as Joya de Cerén, Los Volcanes Complex, Apaneca, and Izalco.
Despite these gains, El Salvador accounted for just 0.11% of cruise arrivals in the region over the past decade. The majority of cruise tourists visited Honduras (28.13%), Belize (26.12%), and the Dominican Republic (24.11%). Smaller shares went to Panama (10.05%), Costa Rica (8.04%), Guatemala (2.01%), and Nicaragua (1.43%).
In 2023, the region registered over 27 million travelers, including tourists and day visitors. Of these, 11.6% traveled by sea, 16% by land, and 72.4% by air.
While El Salvador’s share remains modest, the country’s recent growth in cruise tourism highlights its potential as an emerging destination in the region.
-
El Salvador International Airport Hits Milestone with 5 Million Passengers in 2024.
The El Salvador International Airport “San Óscar Arnulfo Romero” has set a new historic milestone, welcoming its 5 millionth passenger in 2024, according to the Autonomous Executive Port Commission (CEPA).
CEPA reports that, so far this year, over 2 million passengers have departed from the airport, another 2 million have arrived, and nearly 1 million were in transit or connected through the hub.
“Today more than ever, El Salvador is closer to the world,” CEPA stated in a video shared on its social media channels.
As the year-end holidays approach, CEPA President Federico Anliker expects the airport to handle around 17,000 passengers daily. Similarly, Ricardo Cucalón, Director General of Migration and Immigration, anticipates over 1 million entries and exits during this period.
CEPA also highlighted a surge in air cargo activity, with over 33.2 million kilograms of imports and exports moved through the airport’s cargo terminal from January 1 to December 8. This marks a 21% increase compared to 2023.
Passenger flight operations have also seen significant growth, with over 43,100 flights handled during the same period—an 11% rise from the previous year.
This record-breaking year underscores the airport’s pivotal role in connecting El Salvador to the world while boosting the nation’s economic and tourism sectors.
-
El Salvador Leads the Way with Record Low Inflation, Driven by Food Price Measures.
El Salvador has seen a significant drop in inflation, with the Central Reserve Bank (BCR) reporting a rate of -0.31% for November 2024. This marks a 2.4 percentage point decrease compared to November 2023, positioning the country among the least affected by inflation globally.
The BCR attributes this decline to the government’s proactive measures, particularly those aimed at stabilizing food prices. These efforts include strengthening agricultural markets, opening the Soyapango Central de Abastos, and combating price speculation and product hoarding.
In particular, food inflation has shown a notable reduction of -0.7% as of November, marking the second consecutive monthly decline in this sector. This is the lowest food inflation rate since June 2021, reflecting a 5.4 percentage point drop compared to the same month in 2023. Key products such as güisquiles, avocados, carrots, green chili peppers, watermelons, and potatoes have seen substantial price decreases.
As a result of these efforts, El Salvador is now one of the countries least affected by inflation in Central America. Only Costa Rica, which reported a -0.47% inflation rate, had a lower figure. In contrast, neighboring countries like Honduras, Nicaragua, and Guatemala reported inflation rates ranging from 1.5% to nearly 4%.
The country’s performance is also impressive on the global stage. According to a recent OECD study covering over 50 nations, El Salvador ranks third for the lowest food inflation worldwide, trailing only Switzerland and Costa Rica.
With these measures, the government continues to ensure more affordable access to food and stable markets for Salvadoran families.
-
El Salvador Launches First Regional Master’s Degree in Anti-Corruption.
El Salvador has introduced the first regional Master’s Degree in Anti-Corruption and Compliance, offered by the José Gustavo Guerrero Diplomatic Institute (IDG). This groundbreaking program aims to provide specialized training for public officials to prevent corruption and promote transparency in public administration.
According to Luz Elena Núñez, rector of the IDG, the master’s program is designed to equip compliance officers and public servants with the tools necessary to combat corruption, aligning with President Nayib Bukele’s 2023 initiative to declare a «war on corruption.» While the focus is on public sector officials, Núñez noted that the private sector may also benefit from this program in the future.
The two-year program includes both in-person and online components, and it will be taught in Spanish, with additional English-language training. The curriculum covers 68 assessment units and 21 modules, addressing key topics such as ethics in public management, transparency, anti-money laundering strategies, public procurement, and specialized investigative techniques for anti-corruption crimes.
Applicants must be Salvadoran or foreign residents with a bachelor’s degree and a CUM of 7 or higher. The selection process includes application verification, general knowledge tests, English proficiency assessments, and psychometric evaluations, followed by interviews to gauge candidates’ motivation and commitment.
This pioneering master’s degree fills a gap in higher education, as no other institution in Central America offers a similar program. It is taught by both national and international experts, using a competency-based approach that emphasizes practical learning and real-world application.
For more details, visit IDG’s website.
https://twitter.com/AdrianaMiraSV/status/1866281386837184854