This Monday in the Encuentro interview with Julio Villagrán, the economist Julia Evelyn Martínez expressed that the public debt in the period 2019 to 2023 broke a record with respect to previous years, stating that El Salvador had never gone into debt like in the first 51 months of the year. Nayib Bukele’s government that has increased $9,116.8 million in the long term.
“The country’s total public debt is 28,622 million dollars, which includes 9,000 million in pensions, the short-term debt is 2,710 million. the economist explained
On the topic of Bitcoin, Martinez highlighted that the information on the bitcoins that the president has purchased has already come to light. The government currently has more than 5,000 bitcoins, which means that if they sell them there would be a profit of almost $500 million, but the government’s short-term plans are not to sell them, but to safeguard them, speculating that Bitcoin can reach $100,000 dollars. at the end of this year.
“The profits from bitcoin are virtual and potential, if they decided to sell them this day they would be almost 500 million dollars in profits that could be used in hospitals, schools or to pay the debt to the University of El Salvador” Martínez highlights
The bitcoins are expected to be from the Salvadoran state and to be in the name of the president as the country’s representative.
“What you have to ask yourself is whether the bitcoins are in the name of the president in his capacity as legal representative of the Salvadoran State or if they are in his personal capacity because those are two different things.” the economist mentioned
The important thing about Bitcoin in the country’s politics is to promote financial inclusion and not speculate in the market. Given this, the economist mentioned that to know if it is a success or failure, it must be measured in the use of Bitcoin by microenterprises. , transactions through cryptocurrency, and knowing how much it has managed to stimulate the country’s economy, seeing it from this point of view Martínez considers it a failure, since no one uses it, nor does the Chivowallet digital wallet.
“Less than 3% of the remittances that come to the country come in cryptocurrencies, it is clear that with such a low percentage the objective of the policy is not being met… Less than 1% of the transactions carried out by micro, small and medium-sized companies They are made in bitcoin… not even ANDA, which is a government company, is not accepting bitcoin.” features Julia Evelyn Martinez
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