El Salvador’s debt returned 19%, compared to a 2.3% average for other developing nations.
It’s almost like adopting #Bitcoin and getting out from under the IMF’s colonialist boot was a great idea..?
Discussion
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Returned 19%? Im interested in understanding this better. What does this mean? Obviously bond investors(lenders) profited, and it seems they met their debt obligations which apparently many people were skeptical that they would. But does it mean that El Salvador had to pay out and extremely high interest rates on their debt due to high risk? One mans profit is another mans cost. Any clarity that anyone could give is appreciated.
It means their bonds are becoming more reliable and people are willing to pay more and accept a lower interest rate on them. This is good for El Salvador as it means they will be able to pay lower interest rates going forward. Sketchy countries have to pay higher rates to attract buyers for their bonds. El Salvador looking more reliable and now can pay less.
Bitcoin teaches us how much manipulation & exploitation of money have been stealing wealth from people, communities and even nations. Bitcoin adoption is likely to grow exponentially once they see this reality.
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This man is a visionary.
GOAT - nations with courageous leaders will follow 🐬
This was the best decision ever! It will show other countries a way out of the slavery
The OG nation 💪