Friday, February 3, 2023
 

El Salvador Pays Off $800M Bond; President Upset By Lack Of Coverage

  • El Salvador’s President is disappointed by the lack of news coverage after the country paid off its $800 million debt.
  • He calls out major news publications for claiming El Salvador will default on its debt in 2023.
  • The President shared the only news article he could find that was running the news of the country’s debt clearance.

El Salvador’s Finance Minister Alejandro Zelaya tweeted on January 24, that the country just paid off its $800 million bond. However, President Nayib Bukele is disappointed due to the lack of news coverage. On September 7, 2021, President Bukele adopted Bitcoin as the nation’s legal tender to uplift El Salvador financially and save $400 million in annual remittance commissions.

Nonetheless, since then many news publications stated that El Salvador was going to default on its debt on its maturity in January 2023. The President tweeted his frustration in a series of Twitter threads where he shared a list of article links by major media companies that have claimed the default, including the New York Times, Washington Post, Infobae, and Central American publication E&N.

The President also retweeted an older tweet where he had shared an image of the New York Times newspaper running the headline “El Salvador’s Big Bet On Bitcoin Isn’t Paying Off.” In the caption, he is seen to be mocking them by asking if the news platform will apologise once everything gets paid on time.

President Bukele goes on further to point out there are full page spreads on the nytimes and all, creating the narrative that El Salvador was broke and going to default.

After which, he questions the news outlets:

I called them out at the time, but of course, who was going to believe us and not every international news outlet and their “economic geniuses”?

In the thread, he continues to share the link to the only article he could find that was covering the news about El Salvador clearing its debts. The President calls out the media platforms stating “They lie and lie and lie, and when their lies are exposed, they go on silence mode.”

  • El Salvador’s President is disappointed by the lack of news coverage after the country paid off its $800 million debt.
  • He calls out major news publications for claiming El Salvador will default on its debt in 2023.
  • The President shared the only news article he could find that was running the news of the country’s debt clearance.

El Salvador’s Finance Minister Alejandro Zelaya tweeted on January 24, that the country just paid off its $800 million bond. However, President Nayib Bukele is disappointed due to the lack of news coverage. On September 7, 2021, President Bukele adopted Bitcoin as the nation’s legal tender to uplift El Salvador financially and save $400 million in annual remittance commissions.

Nonetheless, since then many news publications stated that El Salvador was going to default on its debt on its maturity in January 2023. The President tweeted his frustration in a series of Twitter threads where he shared a list of article links by major media companies that have claimed the default, including the New York Times, Washington Post, Infobae, and Central American publication E&N.

The President also retweeted an older tweet where he had shared an image of the New York Times newspaper running the headline “El Salvador’s Big Bet On Bitcoin Isn’t Paying Off.” In the caption, he is seen to be mocking them by asking if the news platform will apologise once everything gets paid on time.

President Bukele goes on further to point out there are full page spreads on the nytimes and all, creating the narrative that El Salvador was broke and going to default.

After which, he questions the news outlets:

I called them out at the time, but of course, who was going to believe us and not every international news outlet and their “economic geniuses”?

In the thread, he continues to share the link to the only article he could find that was covering the news about El Salvador clearing its debts. The President calls out the media platforms stating “They lie and lie and lie, and when their lies are exposed, they go on silence mode.”

 

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