Morgan Stanley is willing to buy El Salvador bonds despite poor performance
Morgan Stanley has announced that it is ready to buy El Salvador’s bonds, despite the worst performance of the year. report..
El Salvador’s $ 7.7 billion eurobonds are performing poorly, despite being more numerous than like-minded countries, 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, bonds in Central American countries in 2027 fell to 26.3 cents on July 15.
El Salvador Bitcoin Bet
According to Bloomberg, El Salvador’s Bitcoin (BTC) bet isn’t going as planned, as state 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 El Salvador’s economic initiatives?
It’s clear they’re afraid, #Bitcoin It is inevitable.
By the way, they say we are heading towards default. Will they announce an apology if we pay everything on time? 😉 pic.twitter.com/XBNsUScRLW
— Nayibbukele (@nayibbukele) July 8, 2022
President Nayib Bukele also continues to be a supporter of Bitcoin. In a tweet on July 8, Buquere 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 government led by Bukere to overturn the decision to adopt Bitcoin as fiat currency.
However, the Central African Republic has signaled to adopt Bitcoin from El Salvador, despite the disappointment of international organizations.
