El Salvador’s Finance Minister, Alejandro Zelaya, stated that it is not the right time to launch Bitcoin bonds.
Finance Minister Alejandro Zelaya said in a television program he attended, referring to the market conditions after the war between Russia and Ukraine, that they think it is still not the right time to launch Bitcoin bonds.
Previously, the $1 billion bond was required to be issued between March 15 and March 20. But on March 22, Zelaya announced that they were waiting for the right time to launch the bonds, citing war conditions.
Economists also expressed concern about raising funds to cover the country’s upcoming financial obligations, including an $800 million bond due in January. Central American Institute for Financial Studies (ICEFI) economist Ricardo Castaneda said the country is not guaranteed to receive this money. As a result, considering the difference between income and expenditures until 2024, it is estimated that the country should reach approximately 3 billion dollars.
Zelaya stated that talks between El Salvador and the IMF are continuing and there will be an update on the subject next week.
