3 ms·
Here are some other useful stats: Their credit rating has been downgraded to CCC (ie DEEP JUNK)[0] They're looking at financing needs off 15% of GDP: >Both J
by purple_ferret 4y ago
Here are some other useful stats:
Their credit rating has been downgraded to CCC (ie DEEP JUNK)[0]
They're looking at financing needs off 15% of GDP:
>Both JPMorgan and the International Monetary Fund warn the country is on an unsustainable path, with gross financing needs set to surpass 15% of GDP from 2022 forward — and public debt on track to hit 96% of GDP by 2026 under current policies. [1]
[0]https://www.fitchratings.com/research/sovereigns/fitch-downgrades-el-salvador-long-term-idr-to-ccc-from-b-09-02-2022 https://www.fitchratings.com/research/sovereigns/fitch-downg...
[1]https://www.cnbc.com/2022/06/25/el-salvador-bitcoin-experiment-not-saving-countrys-finances.html https://www.cnbc.com/2022/06/25/el-salvador-bitcoin-experime...
- fleddr 4y agoThe US hit public debt of 135% 2 years ago. The US has not had an annual surplus since 2001 and in the last 2 years had a deficit of about 3T(!). I know, better rating, world reserve currency, etc. Just adding some context to "fiscal responsibility".