The Republic of El Salvador has announced that it has completed the second repurchase of its sovereign bonds maturing in 2023 and 2025.<\/p>\n
According to a press release<\/a> shared by President Nayib Bukele<\/a>, the country purchased $74 million worth of government bonds on Dec. 8.<\/p>\n In September, the government bought back around $565 million worth of bonds.<\/p>\n The debt was issued by El Salvador's previous administrations in 1999 and 2004, with the 2023 and 2025 bond offerings being worth $800 million each, ABC reported<\/a>.<\/p>\n President Bukele celebrated the accomplishment on Twitter, saying that the debt repurchase<\/a> has generated more than $288 million in savings from interest payments for the country.<\/p>\n El Salvador has completed the second repurchase of its sovereign bonds maturing in 2023 and 2025; acquiring in both operations bonds for more than $647 million ($74 million in this operation).<\/p>\n Generating more than $288 million in savings for our country \ud83c\uddf8\ud83c\uddfbhttps:\/\/t.co\/NoVtotHnet<\/a><\/p>\n — Nayib Bukele (@nayibbukele) December 8, 2022<\/a><\/p><\/blockquote>\n\n