The President of El Salvador has struck back at legacy media and told the world his nation was able to meet its financial obligations.
El Salvador’s president Nayib Bukele criticized the biased disposition of legacy media outlets to the country’s efforts in meeting all its financial obligations and keeping to the payment date for the repayment of an $800 million dollar bond.
According to Bukele, the crypto winter that led to the decline in bitcoin price made media outlets predict debt defaults and financial doldrums for El Salvador’s Economy.
He pointed out that some of these media outlets projected that because of its bitcoin losses, his government would need the help of the IMF to make the $800 million bond payment.
According to Bukele, the country has made full payments without external aid. He was surprised and infuriated by the silence from the same media outlets who had predicted difficulties earlier.
Recall that El Salvador 2021 became a cynosure of local and global financial bodies after it became the first country to make bitcoin legal tender.
Nayib Bukele has been at the forefront of promoting bitcoin, claiming that it can solve economic challenges and attract investment to the Central American country.
On Dec. 27, El Salvador launched a bitcoin education program as part of its ongoing adoption push. It is expected to provide thousands of students with an integrated crypto curriculum covering comprehensive knowledge of bitcoin, double spending attacks, and the mechanisms of lightning networks.
The country is planning to build a bitcoin city, and its latest bond repayment arrangement is meant to provide $1 billion worth of funds for the project.