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Morgan Stanley has announced that El Salvador’s bonds are ready to buy, even though they are one of the worst performers of the year, Bloomberg News report..
El Salvador’s $ 7.7 billion eurobonds are performing poorly, despite being more numerous than countries in similar positions, according to the report.
Bank CEO Simon Weber reportedly wrote that El Salvador’s bonds were “overly punished.”
According to Weber’s estimate, El Salvador’s debt should be priced at 43.7 cents against the dollar. This estimate does not cover the $ 800 million debt paid in January 2023, which is trading at 65 cents against the dollar.
Veva warned that the country could default, but added that tightening global liquidity could make it impossible.
According to Veva, the country may be able to fulfill its obligations for another year without missing payments.
Meanwhile, 2027 bonds in Central American countries fell to 26.3 cents on July 15.
According to Bloomberg, El Salvador’s Bitcoin (BTC) bets aren’t going as planned, as the country’s holdings have fallen by 48% and are currently worth $ 56 million.
Bloomberg at the peak of the crypto market crash report The country had an unrealized loss of $ 56 million.
El Salvador is now Hold A total of 2380 BTC.
El Salvador’s finance minister, Alejandro Zelaya, downplayed the effects of the Bitcoin crash and said the situation poses minimal financial risk to the country.
from when @nytimes Have you spent a lot of time and space on the economic initiative of El Salvador?
Obviously they are afraid, #Bitcoin It is inevitable.
By the way, they say we are heading towards the default. Will they announce an apology if we pay everything on time? pic.twitter.com/XBNsUScRLW
Nayibbukele (@nayibbukele) July 8, 2022
President Nayib Bukele continues to be a supporter of Bitcoin. In a tweet on July 8, Bukere wrote that critics were “afraid” that “Bitcoin is inevitable.”
Meanwhile, July 14 Reuters report The debtor has revealed that it is still in talks with the International Monetary Fund (IMF) over a $ 1.3 billion loan.
The IMF has consistently called on the Bukele-led government to overturn the decision to adopt Bitcoin as fiat currency.
However, the Central African Republic has gained clues to adopt Bitcoin from El Salvador, despite the disappointment of international organizations.
