El Salvador to launch previously announced bond buyback offer in September
El Salvador to launch previously announced bond buyback offer in September SAN SALVADOR, Aug 16 (Reuters) - El Salvador will launch a previously announced 2023 and 2025 bond buyback offer in September, Finance Minister Alejandro Zelaya said on Tuesday. El Salvador will likely be able to finance itself through the next couple of years but its debt is on its way to becoming unsustainable past 2024, analysts at JPMorgan said Monday. El Salvador plans to partially fund the operation with reserves allocated last year by the International Monetary Fund and a loan from a Central American multilateral lender. (Reporting by Nelson Renteria; Editing by Anthony Esposito and Sandra Maler)
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SAN SALVADOR, Aug 16 (Reuters) - El Salvador will launch a previously announced 2023 and 2025 bond buyback offer in September, Finance Minister Alejandro Zelaya said on Tuesday.
El Salvador will likely be able to finance itself through the next couple of years but its debt is on its way to becoming unsustainable past 2024, analysts at JPMorgan said Monday.
Zelaya said in July that $560 million the country has available could be used to buy some but not all 2023 and 2025 sovereign bonds, whose maturities total some $1.6 billion..
El Salvador plans to partially fund the operation with reserves allocated last year by the International Monetary Fund and a loan from a Central American multilateral lender. (Reporting by Nelson Renteria; Editing by Anthony Esposito and Sandra Maler)