Bitcoin lover Bukele slams media as El Salvador pays off $800m debt

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El Salvador’s President Nayib Bukelet has looked to legacy international news outlets for their reporting on the country’s debt situation.

What happened: Bukele said that old international media wrongly blamed El Salvador’s debt situation on his Bitcoin BTC/USD bet.

He said that although numerous media outlets reported that El Salvador was at risk of defaulting on its 2023 bond without reaching an agreement with the International Monetary Fund, the country had repaid its $800 million debt “in full… plus interest”.

See more: Best Crypto Day Trading Strategies

They lie and lie and lie, and when their lies come out, they go into silent mode, he said.

El Salvador’s presidential press office told Reuters the payment, which followed an earlier transaction, included $604.1 million and interest of $23.4 million. El Salvador is meeting its debt obligations, he said.

Optimism about El Salvador’s ability to avoid default is reflected in the numbers, according to a Bloomberg report: Its dollar debt has risen an average of 23% so far this year, the best performance of any emerging economies followed by a key index from Bloomberg. This month, El Salvador was able to secure a $450 million loan from the Central American Bank for Economic Integration, helping to secure El Salvador’s ability to meet future bond maturities through 2025.

Meanwhile, the Legislative Assembly of El Salvador on January 11 unanimously approved a law regulating the issuance of digital assets, opening the possibility of issuing government-backed Bitcoin bonds.

Price Action: BTC was trading at $23,083 up 1.45%, in the past 24 hours, according to Benzinga Pro.

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