Added: Damiano Dwyer - Date: 10.12.2021 07:21 - Views: 26445 - Clicks: 8341
Bukele's New Ideas party used the supermajority it won in February congressional elections to fire five top judges and the attorney general, drawing condemnation for what critics saw as a blatant power grab. El Salvador President Nayib Bukele made himself a hero to the Bitcoin faithful this year with a whole hearted embrace of the crypto currency. The bond-market rout shows that for all the excitement Bukele generated in certain circles by adopting Bitcoin as an official currency and using government money to buy the coins, traditional financiers are dubious.
Half of the proceeds would be used to buy Bitcoin. Some bondholders on Wall Street fear Brooke marks ghost successful issuance could cause the government to move even further away from traditional financial markets and the IMF. They want absolute subjugation or nothing. The U. So far, no program has come to fruition. Some analysts are seeing ways that El Salvador could make good on its debt payments, even if the bets on Bitcoin go awry. Alejandro Arreaza and Nestor Rodriguez, strategists at Barclays Plc, wrote in a note last month that Bukele could come up with the necessary money by nationalizing pension funds.
Persuading congress to allow him to issue more debt domestically is another option. Prices for those notes, due inhave since crashed to 62 cents. Amid the collapse in bond prices, Bukele remains enormously popular at home. That level of support may make it easier for Bukele to pursue ill-advised spending plans or embark on other unconventional financial maneuvers.
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Bloomberg -- El Salvador President Nayib Bukele made himself a hero to the Bitcoin faithful this year with a whole hearted embrace of the crypto currency.Brooke marks ghost
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