Prez Bukele Says El Salvador No Longer Dependent on Debt

El Salvador Breaks Reliance on External Debt, Embraces Bitcoin

El Salvador's President, Nayib Bukele, has declared that the nation will no longer rely on external borrowing to fund its forthcoming national budget.

In an interview with Time magazine on August 29th, Bukele also discussed El Salvador's groundbreaking decision to make Bitcoin legal tender in 2021. While acknowledging that the move was innovative, he admitted that it had not achieved the widespread adoption he had initially anticipated.

"A lot more could definitely be done," said Bukele, recognizing the challenges while maintaining optimism.

El Salvador's embrace of Bitcoin as its official currency garnered international attention, especially within the cryptocurrency community. Although results have been mixed, Bukele remains committed to his vision of financial independence and economic growth.

By eliminating its dependence on external debt and continuing to support Bitcoin, El Salvador embarks on a bold trajectory towards greater economic autonomy. The nation's leadership is focused on reducing its reliance on external funding while shaping a future that embraces technological innovation.