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El Salvador's Bold Move: President Bukele Declares End to External Debt Reliance, Thanks to Bitcoin

Financial Independence on Independence Day

18 September 2024 · 11:44 UTC

In a groundbreaking announcement, President Nayib Bukele of El Salvador revealed that his nation will no longer require external debt to fund its annual budget, crediting Bitcoin for this major shift.

This bold move marks a significant step toward financial independence, as the country's embrace of cryptocurrency strengthens its economy and self-reliance.

The declaration, made on Independence Day, symbolizes a new era of economic sovereignty for El Salvador, showcasing the transformative impact of Bitcoin on national financial policies.