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163 sats \ 5 replies \ @kr 24 Jan 2023
looks like they paid off $800m of debt, rather than issuing $800m of debt.
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11 sats \ 4 replies \ @shyfire OP 24 Jan 2023
Surely they issued 800m of new debt to pay off the old loan? I'm wondering who put up the cash for the new debt
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538 sats \ 3 replies \ @petertodd 24 Jan 2023
Not necessarily. $800 million is $130/person, out of a GDP of $4600/person×year. Plausible they actually paid off that debt.
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555 sats \ 2 replies \ @SqNr65 24 Jan 2023
I'm pretty sure they took a loan from a more local institution, the interamerican bank for development or something like that for about $450M. They had also bought back some $200M of their debt since late last year so the repayment today was closer to $600M plus interest. Combined with the loan and just regular government revenues, it seems entirely possible that they haven't issued bonds of any kind
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71 sats \ 1 reply \ @ek 24 Jan 2023
This article says they got a loan from "Central American Bank for Economic Integration": https://www.bloomberg.com/news/articles/2023-01-24/bukele-says-el-salvador-repaid-maturing-bond-dodging-default
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20 sats \ 0 replies \ @shyfire OP 24 Jan 2023
Thanks! No idea who they are, but almost certainly a better setup than the IMF.
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0 sats \ 1 reply \ @BOLT11Village 24 Jan 2023
This is awesome. Even if they had to take another loan, just being free from the shackles of IMF is good enough. Now they can repay on better terms.
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0 sats \ 0 replies \ @shyfire OP 25 Jan 2023
Hopefully the terms are better, yeah.
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