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SAN SALVADOR, Nov 15 (Reuters) – El Salvador’s Congress on Tuesday gave the green light to take out loans and issue new debt worth a total of $542.2 million, as the Central American nation looks to boost tourism and repay some state debt.<\/p>\n
Lawmakers approved the government’s bid to seek $436.2 million through loans or an issue of securities in the domestic and international markets to repay debts this year.<\/p>\n
S&P Global Ratings in September<\/a> warned it could cut El Salvador’s already non-investment-grade credit rating if the country did not make “adequate progress” in reducing its debt.<\/p>\n President Nayib Bukele is under pressure to repay the bulk of a $800 million bond maturing in January.<\/p>\n Congress also backed a $106 million loan with the Inter-American Development Bank (IDB) to develop coastal tourism.<\/p>\n This comes nearly two months after the IDB approved the loan<\/a>, noting the country needed adequate management for tourist destinations and a legislative environmental framework to improve access to drinking water and waste services.<\/p>\n Reporting by Nelson Renteria; Writing by Sarah Morland; Editing by Bradley Perrett<\/span><\/p>\n Our Standards: The Thomson Reuters Trust Principles.<\/a><\/p>\n<\/div>\n\n SAN SALVADOR, Nov 15 (Reuters) – El Salvador’s Congress on Tuesday gave the green light to take out loans and issue new debt worth a total of $542.2 million, as the Central American nation looks to boost tourism and repay some state debt. Lawmakers approved the government’s bid to seek $436.2 million through loans or …<\/p>\n","protected":false},"author":1,"featured_media":36385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[161],"tags":[],"_links":{"self":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/36384"}],"collection":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/comments?post=36384"}],"version-history":[{"count":0,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/36384\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media\/36385"}],"wp:attachment":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media?parent=36384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/categories?post=36384"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/tags?post=36384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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