According to the official, this is specifically due to the high price of construction materials and several factors that are happening in the world, but the materials that are facing high prices are iron and PVC.
He said that another factor affecting this sector is that Nicaragua is buying less products, elaborated through mines and quarries, slowing down the projects it has with the country for the elaboration of the same.
Is El Salvador prepared to pay its debt?
The official said that the country will pay in full dollar for dollar the US$800 million in Eurobonds plus the interest accrued in the Citi Bank account in 2023. He said that they have a specific plan to make the disbursement that will pay off this debt. He assured that this payment will provide tranquility and confidence to the international markets, without running the risk of the country falling into default.
The term default in the financial or economic sphere means "cessation of payments", which means that a person or entity has defaulted on the payment of the debt, either due to lack of liquidity or unwillingness to do so.