© Reuters. File photo: El Salvador’s Finance Minister Alejandro Zelaya speaks at a press conference in San Salvador, El Salvador, March 18, 2022. REUTERS/Jose Cabezas
SAN SALVADOR (Reuters) – El Salvador has repaid $800 million in bonds, Finance Minister Alejandro Zelaya said on Monday as the bonds were set to mature as the Central American country faced pressure to make progress on debt relief. said on the same day.
“Today we are announcing that we have completed the payment of $800 million and interest on the 2023 bonds,” Zelaya tweeted, denouncing a “disinformation campaign” by national and international media.
The president’s news agency told Reuters that payments following previous deals included $604.1 million and $23.4 million in interest. “El Salvador is paying its debts,” he said.
President Naive Bukele faced pressure to demonstrate sound public finances after backing El Salvador to adopt Bitcoin as legal tender alongside the US dollar in 2021.
In September, rating agency Fitch downgraded El Salvador’s sovereign debt from ‘CCC’ to ‘CC’, saying default was likely.