*El Salvador's 60-member unicameral legislature, which is controlled by Nayib Bukele’s Nuevas Ideas (NI), has signed off on a US$1.5bn debt issuance, according to media reports. The funds will go on paying off debts, general State obligations, or government actions aimed at improving social, environmental or economic conditions for the public. The move was criticised by opposition legislators such as Marcela Villatoro of the main right-wing opposition Alianza Republicana Nacionalista (Arena) who complained that the approved decree failed to specify exactly where the funds would go.
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LatinNews Daily - 23 May 2024
In brief: El Salvador’s congress greenlights debt issuance
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