President Nayib Bukele said Thursday that he hopes to reach an agreement with the International Monetary Fund (IMF) on a new financing program after the 2024 general elections.
For more than two years, the Bukele government has been in negotiations with the multilateral organization to obtain a loan for 1.3 billion dollars, with which it seeks to leverage budget gaps and reduce debt costs.
However, relations began to strain after Bukele’s controversial decision to implement bitcoin as legal tender in the country.
“I would hope that this agreement would be reached after the elections,” Bukele told reporters.
Last week, Rodrigo Valdés, an official at the multilateral organization, said that a recent meeting between the IMF and El Salvador had been “very productive,” calling it a first step toward reaching an agreement.
In 2021, the Supreme Court of Justice, with a majority of judges backed by Bukele, ruled that he would run for another term despite several constitutional prohibitions on presidential re-election.