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El Salvador improves tax collections, cuts spending to pay off bonds

El Salvador improves tax collections, cuts spending to pay off bonds

January 26, 2023 | Hernán Goicochea
Finance minister says the government saved $23 mln on the 2023 bonds and has $347 mln in outstanding 2025s

Corporate & Sovereign Strategy Bonds Debt Economy & Policy Fixed Income Capital Markets El Salvador

El Salvador's Finance Minister Alejandro Zelaya said Wednesday that the government improved tax collections, cut public spending and used reimbursements from multilateral banks to pay off bonds that matured this week.  "[The funds came] from increases in tax collection, from the cuts we have made in public spending, prioritizing investment because investment has not stopped," Zelaya said in an interview with local television program Frente a Frente on Telecorporación Salvadoreña (TCS). "In addit

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