#BinanceTurns7 Binance Blockchain Week, El Salvador launches offer to buy back its external debt

El Salvador announced that from October 4 to October 10, holders of El Salvador bonds, with maturities between 2027 and 2052, will be able to make offers to the State for their liquidation.

This is a “public and voluntary repurchase” as announced by President Nayib Bukele through his account on X. In the published document, it is made clear that it is an “acceptance of offers”. Holders can make offers through their brokers and the State will be willing to accept them or not.

The total to be offered for the debt bonds, according to the published document, amounts to around 7.2 billion dollars. With prices per bond ranging from USD 24 to USD 1,015. These depend on the type of bond and the interest rate offered, which ranges from 6.3% per year to 9.5%.

Debt repurchase with the IMF in sight

This debt refinancing movement occurs in the midst of the agreement negotiations between El Salvador and the International Monetary Fund (IMF). Last week, as reported by CriptoNoticias, the Minister of Finance, Jerson Posada, reported that the country is “about to close” an agreement with the IMF. Assuring that they are focusing on a series of mechanisms to strengthen bank reserves.

For its part, the IMF, which made statements after what was expressed by the Minister of Finance, commented that Bitcoin remains “key” in the negotiations. This is a reminder that the IMF itself has asked Bukele to reform the bitcoin law, calling for stricter controls against money laundering.

It is not yet clear whether this debt refinancing move is based on part of the IMF agreement to reach a deal, or is simply an external fact.

Since the beginning of his second term, Bukele commented that his efforts, in this new cycle, would focus on the economy, ensuring that El Salvador “will no longer spend