El Salvador is facing a real possibility of defaulting on its debt because of Bitcoin
Because of its Bitcoin gamble, El Salvador will likely fail to secure financing from the International Monetary Fund . The country is supposed to make its $800 million bond payment in January. Earlier this month, Moody’s downgraded El Salvador’s debt rating to “junk.”President Nayib Bukele, who calls himself the “the world’s coolest dictator,” hasn’t soured on Bitcoin despite being ridiculed for making the impoverished nation even poorer with his ill-timed buys.
Fernando Mejía, a graphic designer from San Salvador, told the Wall Street Journal that Bitcoin was actually causing more harm.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Woman sentenced to 30 years in prison for abortion in El SalvadorA court in El Salvador has sentenced a woman who suffered an obstetric emergency that ended her pregnancy to 30 years in prison for aggravated homicide, according to a nongovernmental organization assisting in her defense.
Read more »
El Salvador’s President Went All In on Bitcoin. Then It Tanked.El Salvador’s President Nayib Bukele went all in on bitcoin. The cryptocurrency’s steep losses are stoking fears of a debt default.
Read more »
Alturas Fire in El Paso County sparked by sheriff's office cruiserA fire burning in El Paso County has burned 182 acres and is 15% contained as of 10 p.m. Thursday, according to the Colorado Springs Fire Department.
Read more »
Christina Hall & Tarek El Moussa Put On a United Co-Parenting Front: 'Kids Come First'After a challenging week, exes Christina Hall and Tarek El Moussa recommit to 'peace' when co-parenting their kids.
Read more »
Livestreamed Car Crash, El Honky Tonk: San Antonio's biggest food stories of the weekHarrowing livestream video shows a suspected drunk driver plowing into a North Side bar's patio. SanAntonio SATX SaAntonio SanAntonioFood SanAntonioRestaurants
Read more »
Christina Hall and Heather Rae El Moussa Show United Front in New PicChristina Hall and Heather Rae El Moussa appear to have put their differences aside in the name of co-parenting.
Read more »