The central objective is to improve the country's fiscal and external stability, reduce the high level of debt and strengthen the international reservesIn exchange, the Salvadoran government pledged to make fiscal adjustments, improve the efficiency of public spending, and strengthen mechanisms for transparency and the fight against corruption, money laundering, and the financing of terrorism. In addition, one of the key points of the agreement is to limit the use of bitcoin by the State and ensure that its acceptance is completely voluntary for companies and citizens. This agreement marks a shift in the economic strategy of President Bukele, who had bet heavily on cryptocurrency since 2021. While some sectors criticize this withdrawal as a symbolic defeat, many economists highlight that the agreement is key to ensuring financial stability and facilitating access to additional financing from other international organizations.
Source: CESCE
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