This means that the country's authorities paid important global bond amortizations at the beginning of the year corresponding to US$800 million in Eurobonds maturing in january 2023, as well as another US$800 million for the year 2025.
After the salvadoran nation paid off its foreign debt, the rating agency Fitch Ratings raised the country's credit rating from CC to CCC+. The agency also stated that a debt default situation no longer seems likely.
This growth has contributed both to tax collection and to the improvement of fiscal accounts in general.
JP Morgan & Chase expects these positive trends, such as above-potential growth and fiscal receipts, to continue in the near term. They also foresee a gradual decline in debt ratios in the country.
According to the rating agency S&P Global Ratings raised the Central American country's rating from "SD/SD" to "CCC+/C", after declaring it in default.
El Salvador has achieved a faster recovery in economic activity and, by some measures, has production above its pre-pandemic trend.
Translated by: A.M