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☆ El Salvador Removes Income Taxes for Money From Abroad
▼ + stars: | 2024-03-12 | by ( March | At P.M. | ) www.usnews.com time to read: 1 min

SAN SALVADOR (Reuters) - El Salvador's Congress approved on Tuesday a reform to remove income taxes previously imposed on money from abroad, in a move to attract more foreign investment. Money flows from abroad in forms such as remittances and investments in companies will now be exempt from tax, lawmakers said. Prior to the reform, incomes equal to or greater than $150,000 had to pay a rate of 30% at the time of entry into the country. "The initiative aims to stimulate domestic and foreign investment to boost the economy and generate better and more employment opportunities," said lawmaker Suecy Callejas in Congress when defending the reform. (Reporting by Nelson Renteria; Writing by Valentine Hilaire; Editing by Sarah Morland)

Persons: Suecy Callejas, Nelson Renteria, Valentine Hilaire, Sarah Morland Organizations: SALVADOR, Reuters, Salvador's

☆ U.S. Mends Fences With El Salvador's Bukele as China Lurks
▼ + stars: | 2024-02-06 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +6 min

Now, more than ever, the U.S. needs Central American nations like El Salvador to curb migration to the southern border. In October, the State Department's top Latin America diplomat, Brian Nichols, visited El Salvador and posed for photos with Bukele. WAITING IN THE WINGSAt the same time, there are growing ties between China and El Salvador. Although of limited commercial importance in itself, El Salvador offers China a foothold in Central America, and in 2017 broke relations with Taiwan in favor of China. "El Salvador wants to do trade with everyone," Bukele said during his victory speech on Sunday night.

Persons: Diego Oré, Sarah Kinosian, Nelson, Nayib Bukele, Jean Manes, Bukele's, Brian Nichols, Antony Blinken, Bukele, Manes, Ana Maria Mendez, Salvadorans, El Salvador, El, Margaret Myers, Diego Ore, Nelson Renteria, Christian Plumb, Rosalba O'Brien Organizations: SALVADOR, Reuters, El Salvador, Central American, U.S, U.S ., Central, State Department's, El, U.S . State Department, Washington Office, U.S . Customs, USAID, The U.S, Inter, Huawei, Washington, Diego Locations: United States, U.S, El Salvador, Latin America, America, China, Honduras, Washington, China's, San Salvador, Central America, Taiwan, Mexico City

☆ Bukele Landslide Shifts El Salvador to One-Party State, Amplifies Democracy Fears
▼ + stars: | 2024-02-05 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +5 min

By Sarah Kinosian and Nelson RenteriaSAN SALVADOR (Reuters) - The landslide re-election of El Salvador President Nayib Bukele was cheered by supporters of his gang crackdown, but has worried opponents who fear the country is sliding into a de facto one-party state. El Salvador had "made history" for electing a single party "in a fully democratic system," he said. But rights groups said they are worried about where the country is headed and forecast further curbs on civil rights. They are just grateful he crushed the gang violence plaguing El Salvador for decades and that they can go outside after dark again. "Democratic spaces are closing in El Salvador, civil society is closing down and there is an environment of fear to speak out," said Claudia Ortiz, a lawmaker who has clashed with Bukele and ran for the upstart Vamos party.

Persons: Sarah Kinosian, Nelson, Nayib Bukele, Bukele, El Salvador, Gabriela Santos, State Anthony Blinken, Daniel Ortega, Gladis Munoz, Claudia Ortiz, Nelson Renteria, Drazen Jorgic, Christian Plumb, Rosalba O'Brien Organizations: SALVADOR, Reuters, El Salvador, U.S, Human Rights, University of Central America, El, State, Bukele Locations: El Salvador, U.S, Central America, El, Nicaragua, Venezuela

☆ Last Salvadoran Woman Imprisoned Over Baby's Death Calls for Change
▼ + stars: | 2024-01-17 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

El Salvador has one of the most draconian abortion bans in the Americas, which critics say extends to women who suffer miscarriages and stillbirths. Many women have been sentenced to decades in prison on charges of killing their children. The 28-year-old woman, known as Lilian, was the last woman still imprisoned on such charges, according to two local civil rights groups. "I call on people stop denouncing other innocent women," Lilian told a press conference after a judge last month acquitted her of a 30-year sentence after seven years behind bars. Lilian, who is also the mother of a 10-year-old, said she was happy to be reunited with her family.

Persons: El, Lilian, Lillian, Nelson Renteria, Raul Cortes, Sarah Morland, Leslie Adler Organizations: SALVADOR, Reuters, Central, Citizens, Group Locations: El Salvador, Central American, Americas, Nicaragua, Honduras, Dominican Republic, Caribbean

☆ El Salvador's president asks for leave of absence to seek reelection
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

[1/2] El Salvador's President Nayib Bukele speaks during the inauguration of the 3 de Febrero hydroelectric power plant in San Luis de La Reina, El Salvador October 19, 2023. REUTERS/Jose Cabezas/File Photo Acquire Licensing RightsSAN SALVADOR, Nov 28 (Reuters) - Salvadoran President Nayib Bukele announced on Tuesday he will formally ask Congress to approve a leave of absence over the next few days to allow him to run for reelection as president of the Central American nation next year. In a televised speech, Bukele said he is formally requesting the leave of absence "to dedicate myself to the campaign," but he did not name his temporary replacement in his brief remarks. While critics question Bukele's ability to seek a second consecutive term, citing a constitutional prohibition, the country's top court ruled he could run in 2021. The judges on that court were appointed by Congress, which is dominated by Bukele's New Ideas party.

Persons: Nayib Bukele, San Luis de La, Jose Cabezas, Bukele, Nelson Renteria, David Alire Garcia Organizations: El, San Luis de La Reina, REUTERS, SALVADOR, Central American, Congress, Bukele's, Thomson Locations: San Luis, El Salvador

☆ El Salvador hosts Miss Universe as protesters denounce mass arrests
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: +2 min

[1/3] Police officers stand guard at a protest to demand help for the release of people detained during the state of emergency decreed by the government to curb gang violence, ahead of the Miss Universe gala to be held in San Salvador, El Salvador November 18, 2023. The crackdown is widely popular among Salvadorans and has helped reduce crime and homicide rates, attracting international events like Miss Universe, which El Salvador has reportedly invested $60 million to host. Protesters in the capital San Salvador marched on Saturday from the city's Monument to the Constitution to a hotel where dozens of Miss Universe delegates are staying. "We want Miss Universe to see that Salvadorans are suffering," said Guadalupe Avila, 67, whose 27-year-old son Carlos was arrested 19 months ago. Some protesters wore sashes that said "Miss Political Prisoners," "Miss Persecution," and "Miss Mass Trials," referencing group trials that have been announced for thousands of people arrested in the crackdown.

Persons: Jose Cabezas, Nayib Bukele, Guadalupe Avila, Carlos, Avila, Nelson Renteria, Chizu Organizations: Police, Miss, San Salvador , El, REUTERS, SALVADOR, Saturday, Central American, El, Protesters, Thomson Locations: San Salvador ,, San Salvador , El Salvador, El Salvador, San Salvador

☆ El Salvador Hosts Miss Universe as Protesters Denounce Mass Arrests
▼ + stars: | 2023-11-18 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

SAN SALVADOR (Reuters) - At least 300 people protested in El Salvador on Saturday against an anti-gang crackdown they said was putting innocent people behind bars, hours before the Central American country hosts the Miss Universe competition for the first time since 1975. The crackdown is widely popular among Salvadorans and has helped reduce crime and homicide rates, attracting international events like Miss Universe, which El Salvador has reportedly invested $60 million to host. Protesters in the capital San Salvador marched on Saturday from the city's Monument to the Constitution to a hotel where dozens of Miss Universe delegates are staying. "We want Miss Universe to see that Salvadorans are suffering," said Guadalupe Avila, 67, whose 27-year-old son Carlos was arrested 19 months ago. Some protesters wore sashes that said "Miss Political Prisoners," "Miss Persecution," and "Miss Mass Trials," referencing group trials that have been announced for thousands of people arrested in the crackdown.

Persons: Nayib Bukele, Guadalupe Avila, Carlos, Avila, Nelson Renteria, Chizu Nomiyama Organizations: SALVADOR, Reuters, Saturday, Central American, Miss, El, Protesters Locations: El Salvador, San Salvador

☆ Top MS-13 leader to stand trial in New York on terrorism charges
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

Mara Salvatrucha (MS-13) gang members wait to be escorted upon arrival at the maximum-security jail in Zacatecoluca, El Salvador, January 31, 2019. REUTERS/Jose Cabezas/File Photo Acquire Licensing RightsSAN SALVADOR, Nov 15 (Reuters) - A top leader of the notorious Mara Salvatrucha (MS-13) gang will stand trial in New York on terrorism charges, the U.S. Justice Department said on Wednesday. El Salvador citizen Elmer Canales, known as "Crook de Hollywood," was arrested by Mexican authorities last week and sent to Texas, where a federal court on Wednesday ordered him to face trial in New York. Canales, along with 13 other MS-13 members, was indicted in 2020 on terrorism charges relating to his alleged involvement in organized crime in the U.S., Mexico and El Salvador over the past two decades. When Canales' indictment was unsealed in early 2021, he was behind bars in El Salvador, and the U.S. requested his extradition.

Persons: Mara Salvatrucha, Jose Cabezas, Elmer Canales, Crook, Canales, Merrick Garland, Nayib Bukele, Nelson Renteria, Cynthia Osterman Organizations: REUTERS, SALVADOR, U.S . Justice, El, Wednesday, U.S, Justice Department, Reuters, Thomson Locations: Zacatecoluca, El Salvador, New York, Texas, U.S, Mexico, United States, Salvadoran, Guatemala

REUTERS/Susana Vera Acquire Licensing RightsMARRAKECH, Morocco, Oct 13 (Reuters) - The International Monetary Fund's engagement with El Salvador has been "very productive" following a recent visit from a negotiating team, but an agreement is "not there yet" for a new financing program, an IMF official said on Friday. "The engagement with El Salvador has been very productive," Rodrigo Valdes, director of the IMF's Western Hemisphere Department, told Reuters. "We just had a mission there, a negotiating mission, but we knew that it would be a first step," he said. The IMF said in late September that it was working with El Salvador on "technical issues" and on minimizing the risks from the country's adoption of bitcoin as legal tender. "In other countries fragmentation, low popularity, are constraints for policy actions and here they have a very valuable opportunity," the IMF official said.

Persons: Western Hemisphere Department Rodrigo Valdes, Susana Vera, El Salvador, Rodrigo Valdes, Valdes, we're, Nayib Bukele, El, Bukele, Jorgelina, Rodrigo Campos, Nelson Renteria, Paul Simao Organizations: International Monetary Fund, Western Hemisphere Department, Reuters, IMF, World Bank, REUTERS, Rights, Monetary, El, Salvadoran, Thomson Locations: Marrakech, Morocco, Rights MARRAKECH, El Salvador, Salvadoran, Rosario, New York, San Salvador

☆ Guatemala's Arevalo says state using violence to counter protests, warns of possible 'siege'
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Josue Decavele Acquire Licensing RightsGUATEMALA CITY, Oct 9 (Reuters) - Guatemala's president-elect Bernardo Arevalo said on Monday the government is using violence to counter protests and create tension which could be used as an excuse for declaring a state of "siege," even as the government announced tighter measures. The attorney general's office has conducted raids on the buildings of electoral authorities and Arevalo's Semilla party headquarters and has moved to suspend the party. Late on Monday, outgoing President Alejandro Giammattei said on national TV the country would no longer tolerate street blockades, which he called illegal. "Many of the blockades in the west of the country have counted on the participation and assistance of foreigners," he said. He also called on Arevalo to meet with OAS mediators to ensure a peaceful handover on Jan. 14.

Persons: Josue, Bernardo Arevalo, Arevalo's, Alejandro Giammattei, Giammattei, Arevalo, Sofia Menchu, Nelson Renteria, Valentine Hilaire, Sarah Morland, Brendan O'Boyle, Stephen Coates Organizations: REUTERS, GUATEMALA CITY, Organization of American States, Thomson Locations: Guatemala City, Guatemala, GUATEMALA, Arevalo's, El Salvador, Guatemalan, Arevalo .

☆ El Salvador kicks off election campaigns as incumbent's bid faces criticism over constitutionality
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +1 min

El Salvador's President Nayib Bukele addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsSAN SALVADOR, Oct 3 (Reuters) - El Salvador's political parties launched their campaigns for the upcoming presidential elections on Tuesday, amid vocal criticism from the opposition that President Nayib Bukele will seek re-election despite it being prohibited by the constitution. More than 6 million Salvadorans are set to hit the polls on Feb. 4 to elect a president and vice president, who govern for five-year terms. Bukele is heavily favored to win re-election in the Central American nation, whose constitution forbids consecutive terms. Reporting by Nelson Renteria; Writing by Kylie Madry; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Nayib Bukele, Eduardo Munoz, Francisco Gavidia, Felix Ulloa, Nelson Renteria, Kylie Madry, Josie Kao Organizations: El, General Assembly, REUTERS, SALVADOR, Central, Francisco Gavidia University's Citizen Studies Center, Reuters, Salvadoran, Thomson Locations: New York City, U.S, Central American

Policemen prepare for an anti-gang patrol following a year-long state of emergency against gangs, in Soyapango, El Salvador March 24, 2023. It shows police believe 42,826 people, or 36% of those they say are tied to gangs, remain free. Of those, more than 20,000 are considered to be active gang members. Security forces have since arrested more than 72,000 suspected gang members and associates, giving the country the highest incarceration rate in the world. Authorities put alleged gang members into three categories: active members, aspiring members and collaborators, defined as people who assist the gang but are not members.

Persons: Jose Cabezas, Noah Bullock, they've, Nayib Bukele, Marvin Reyes, Reyes, Bullock, Sarah Kinosian, Nelson Renteria, Stephen Eisenhammer, Tom Hogue Organizations: REUTERS, SALVADOR, National Civil Police, Reuters, Gangs, Security, Police Workers Movement, Thomson Locations: Soyapango, El Salvador, El, Mexico City, San Salvador

El Salvador's President Nayib Bukele speaks during a ceremony to lay the first stone of a new public hospital, in San Salvador, El Salvador June 15, 2023. El Salvador's debt repurchases last year and a still-light payments calendar were behind a rally that shrank the premium to hold Salvadoran government debt (.JPMEGDELSR) from above 3,200 basis points in July last year to about 1,000 a year later. Katrina Butt, a senior economist at AllianceBernstein, said that even as the size of the investment is yet to be made public, "Google Cloud's announcement could significantly improve macro fundamentals in El Salvador over time". "Though outperformance of El Salvador has been impressive we think the carry is still attractive given the low default risk." BNP's Marshik said the next leg of the rally could come from good news on El Salvador's relationship with the International Monetary Fund - where the United States is the largest shareholder.

Persons: Nayib Bukele, Jose Cabezas, Nathalie Marshik, Katrina Butt, Shamaila Khan, BNP's Marshik, Siobhan Morden, Rodrigo Campos, Nelson Renteria, Angus MacSwn Organizations: El, San Salvador , El, REUTERS, SALVADOR, Reuters, BNP Paribas, Google, United States, U.S . Embassy, Peace Corps, Central American, U.S, Asia Pacific, UBS Asset Management, International Monetary, IMF, Santander US Capital Markets, Thomson Locations: San Salvador ,, San Salvador , El Salvador, El Salvador, America, Peace, El Salvador's, Asia, United States

☆ Google Cloud to open office in El Salvador in seven-year partnership
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: 1 min

A screen with a Google Cloud logo is pictured during Google's presentation of a detailed investment plan for Germany outside the Google office in Berlin, Germany, August 31, 2021. REUTERS/Annegret Hilse Acquire Licensing RightsSAN SALVADOR, Aug 29 (Reuters) - Google Cloud and the government of El Salvador announced a multi-year agreement on Tuesday that will establish an office and deliver Google Distributed Cloud services in the Central American country, Google Cloud said in a statement. The seven-year strategic partnership, pending legislative approval, will focus on the areas of digital government, healthcare and education. Reporting by Nelson Renteria; Writing by Brendan O'Boyle; Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Annegret, Google Cloud, Nelson Renteria, Brendan O'Boyle, Isabel Woodford Organizations: REUTERS, SALVADOR, Google, El, Central, Thomson Locations: Germany, Berlin, El Salvador, Central American

☆ El Salvador backs mass trials for thousands held in crime crackdown
▼ + stars: | 2023-07-26 | by ( Nelson Renteria | ) www.reuters.com time to read: +3 min

[1/2] El Salvador's President Nayib Bukele speaks during a ceremony to lay the first stone of a new public hospital, in San Salvador, El Salvador June 15, 2023. El Salvador has been under a state of emergency for 16 months, sparking the arrest of over 71,900 alleged gang members. Opposition politicians and rights groups say group trials risk depriving detainees of their right to due process and their individual presumption of innocence. On July 14 at the Inter-American Commission on Human Rights, rights organizations denounced the deaths of 174 people in state custody and over 6,400 documented human rights abuses during the state of emergency. Reporting by Nelson Renteria in San Salvador; writing by Sarah Kinosian; Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Nayib Bukele, Jose Cabezas, Nayib Bukele's, Gustavo Villatoro, Manuel Melendez, Ingrid Escobar, general's, Nelson Renteria, Sarah Kinosian, Matthew Lewis Organizations: El, San Salvador , El, REUTERS, SALVADOR, Central American, Justice, Salvadoran, Harvard University, Legal, Inter, American, Human Rights, Lawmakers, Thomson Locations: San Salvador ,, San Salvador , El Salvador, El Salvador, San Salvador

☆ US adds Central American ex-presidents, judges, lawmakers to corruption list
▼ + stars: | 2023-07-19 | by ( Raul Cortes | ) www.reuters.com time to read: +2 min

Two former Salvadoran presidents - Mauricio Funes, who served from 2009 to 2014, and his successor Salvador Sanchez, whom Washington links to corruption, money laundering and embezzlement of public funds - were added to the list. Guatemala's government meanwhile rejected the accusations on Wednesday, labeling the report "used by the United States to impose its jurisdiction on people abroad, as despicable." It includes ex-officials from the government of former Honduran President Juan Orlando Hernandez, who was extradited to the United States over drug trafficking links. Politicians from Honduras' opposition Liberal Party also appear, including Liberal leader Yani Rosenthal, previously convicted of money laundering in the United States. The Nicaraguan section includes all of the country's parliamentary leaders, barring its president, who Washington has already sanctioned, and several judges and directors of Nicaragua's money laundering watchdog.

Persons: Mauricio Funes, Salvador Sanchez, Funes, Sanchez, Daniel Ortega, Brian Nichols, Fredy Orellana, Bernardo Arevalo, Engel, Juan Orlando Hernandez, Yani Rosenthal, Rosenthal, Washington, Raul Cortes, Sofia Menchu, Gustavo Palencia, Nelson Renteria, Sarah Morland, Matthew Lewis Organizations: U.S . State Department, Salvadoran, Western Hemisphere, Liberal Party, Liberal, Thomson Locations: El Salvador, Honduras, Guatemala, Nicaragua, Washington, United States, Mexico City, Sofia, Guatemala City, Tegucigalpa, Nelson, San Salvador

☆ Magnitude 6.5 quake felt in Central America, no damage reported
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +1 min

SAN SALVADOR, July 18 (Reuters) - A magnitude 6.5 earthquake struck off El Salvador's Pacific coast at a depth of nearly 70 km (43 miles) on Tuesday evening, the United States Geological Survey (USGS) said, with reports indicating it was felt in several nations in Central America. There were no immediate reports of damage and the earthquake did not trigger a tsunami warning for El Salvador, El Salvador's environment ministry said. Salvadoran lawmaker Salvador Chacon said on Twitter that checks were being carried out in the coastal city of La Libertad, near the capital San Salvador, although there were no reports of damage from the municipality. The quake was also felt in Nicaragua, Honduras, Guatemala and Belize, according to local media and Reuters witnesses. Reporting by Nelson Renteria in San Salvador; Writing by Kylie Madry and Isabel Woodford; Editing by Anthony Esposito and Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: El, Salvador Chacon, Nelson Renteria, Kylie Madry, Isabel Woodford, Anthony Esposito, Tom Hogue Organizations: SALVADOR, United States Geological Survey, Twitter, Thomson Locations: El, Central America, El Salvador, La Libertad, San Salvador, Nicaragua, Honduras, Guatemala, Belize

☆ El Salvador arrests more than 100 Colombians in financial scheme
▼ + stars: | 2023-07-18 | by ( Nelson Renteria | ) www.reuters.com time to read: +2 min

SAN SALVADOR, July 17 (Reuters) - Salvadoran police arrested more than a hundred Colombians for their alleged involvement in operating a microfinancing scheme that laundered money from drug running and gang activities, security officials said on Monday. The criminal group reportedly made loans, using funds obtained illegally, to individuals and small businesses with 20% interest, according to the officials. Some $20 million in money linked to drug trafficking gangs is estimated to have been sent to Colombia since 2021 under the scheme, added Delgado. Colombia's foreign ministry said it was in talks with its embassy and consulate in El Salvador over the arrests, but did not offer further comment on the accusations facing the Colombian nationals. Reporting by Nelson Renteria in San Salvador; Additional reporting by Oliver Griffin in Bogota Writing by Kylie Madry Editing by David Alire Garcia and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Nayib Bukele, Rodolfo Delgado, Delgado, Bukele, Nelson Renteria, Oliver Griffin, Kylie Madry, David Alire Garcia, Matthew Lewis Organizations: SALVADOR, Salvadoran, Twitter, Colombian, Thomson Locations: Colombia, El Salvador, Guatemalan, Argentine, San Salvador, Bogota

☆ Salvadoran President Bukele's party names him as 2024 candidate
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

SAN SALVADOR, July 9 (Reuters) - Salvadoran political party Nuevas Ideas chose President Nayib Bukele on Sunday as its candidate for the presidential elections of early 2024, even though the country's constitution does not allow consecutive terms for the presidency. The president - favored in the 2024 election by nearly 70% of Salvadorans - and his Vice President Felix Ulloa still need to register as candidates with the Supreme Electoral Tribunal (TSE) to formalize their candidacy. His "war" against gangs in El Salvador has led to more than 66,000 people being imprisoned and earned Bukele unprecedented popularity. Bukele has denied the allegations but undercover negotiations with gangs have not been unusual in El Salvador. Salvadorans will vote on Feb. 4 next year to elect a president and vice president for the 2024-2029 term and legislators until 2027.

Persons: Nayib Bukele, Bukele, Felix Ulloa, Mauricio Funes, Salvadorans, Nelson Renteria, Anna, Catherine Brigida, Tom Hogue Organizations: SALVADOR, FMLN, Thomson Locations: Salvadoran, United States, El, El Salvador

☆ El Salvador slashes size of Congress ahead of elections
▼ + stars: | 2023-06-07 | by ( Nelson Renteria | ) www.reuters.com time to read: +2 min

[1/2] El Salvador's President Nayib Bukele delivers a speech to mark his fourth year in office, in San Salvador, El Salvador June 1, 2023. REUTERS/Jessica Orellana/File PhotoSAN SALVADOR, June 7 (Reuters) - El Salvador's Congress passed an electoral reform in the early hours of Wednesday to reduce the lawmaking body's size by nearly a third, a move the ruling party says will reduce spending and critics say consolidates power ahead of elections. The reform, announced last week by President Nayib Bukele in an address marking four years in government, cuts the unicameral Congress' size from 84 lawmakers to 60. Presidential and legislative elections will be held in February, with municipal and regional Central American Parliament elections scheduled for March. In 2021, El Salvador's top court, whose members are appointed by Congress which is controlled by the president's party, ruled that Bukele could stand for re-election, a decision that drew international condemnation.

Persons: Nayib Bukele, Jessica Orellana, Bukele, Anabel Belloso, Nelson Renteria, Kylie Madry, Bill Berkrot Organizations: El, San Salvador , El, REUTERS, SALVADOR, Salvador's Congress, FMLN, Central American, Thomson Locations: San Salvador ,, San Salvador , El Salvador, Congress, El

☆ El Salvador partnership to build $1 billion bitcoin mining farm
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

SAN SALVADOR, June 5 (Reuters) - A public-private partnership in El Salvador will pump $1 billion into creating one of the world's largest bitcoin mining farms, the group called Volcano Energy announced on Monday. Volcano Energy said the funds would go toward an estimated 241 MW power generation park using solar and wind energy in the northwestern municipality of Metapan, which will eventually power the bitcoin mining farm. Bitcoin mining uses high-power computers hooked up to a global network, sucking up massive amounts of electricity in the process. The El Salvador government will have "a preferred participation equivalent to 23% of the revenues" in the project, Volcano Energy said, with private investors holding 27%. Reporting by Nelson Renteria in San Salvador and Kylie Madry in Mexico City; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Persons: Nayib Bukele, Josue Lopez, Max Keiser, Nelson Renteria, Kylie Madry, Aurora Ellis Organizations: SALVADOR, Volcano Energy, Salvadoran, Reuters, International Monetary Fund, El, U.S ., Thomson Locations: El Salvador, Salvador's, Metapan, San Salvador, Mexico City

☆ El Salvador president pledges white-collar prison in 'war' on corruption
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +2 min

[1/3] El Salvador's President Nayib Bukele delivers a speech to mark his fourth year in office, in San Salvador, El Salvador June 1, 2023. REUTERS/Jessica OrellanaSAN SALVADOR, June 1 (Reuters) - El Salvador's President Nayib Bukele on Thursday pledged to build a prison to hold white-collar criminals as part of a crackdown on corruption that he likened to his fight against criminal gangs. "Just as we built a prison for the terrorists, we will build one for the corrupt." "We will fight white-collar criminals wherever they come from," Bukele added, "but we will only use legal means." Later in the speech, Bukele said former President Alfredo Cristiani's property was being raided.

Persons: Nayib Bukele, Jessica Orellana, Bukele, Alfredo Cristiani's, Salvadorans, Nelson Renteria, Lizbeth Diaz, Sarah Morland, Jacqueline Wong Organizations: El, San Salvador , El, REUTERS, SALVADOR, Thomson Locations: San Salvador ,, San Salvador , El Salvador

☆ El Salvador court sentences ex-President Funes to 14 years in prison
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +2 min

SAN SALVADOR, May 29 (Reuters) - A court in El Salvador sentenced former President Mauricio Funes and his justice minister to over a decade behind bars for their ties with criminal groups and failure to comply with duties, the attorney general's office said in a tweet on Monday. Funes was sentenced to 14 years and former justice and defense minister, David Munguia, to 18. Funes, who governed from 2009 to 2014 and lives in Nicaragua, was granted Nicaraguan citizenship in 2019. El Salvador has been living under a state of emergency declared by the government of President Nayib Bukele for more than a year. Official data shows 5,000 of the prisoners have been released, as authorities found no ties to criminal groups.

☆ El Salvador forces surround town in north after police killing
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +2 min

The officer was killed while on patrol in Nueva Concepcion, some 42 miles (67 km) northwest of the capital on Tuesday in an attack by alleged gang members, security authorities said. El Salvador has suspended constitutional rights in a so-called state of exception that allows police to swiftly arrest and jail suspected gang members while suspending their right to a lawyer and court approval of preliminary detention. Human rights groups say some innocent people have been caught up in the policy, including at least dozens who died in custody. Bukele's government has previously launched similar surges of security forces in urban areas considered highly dangerous in an attempt to stop drug trafficking and the movement of gang members. Reporting by Nelson Renteria; Writing by Sarah Morland Editing by Alistair BellOur Standards: The Thomson Reuters Trust Principles.

☆ Salvadoran lawmakers pass tech tax cut, including for AI businesses
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

The tech tax cut was championed by President Nayib Bukele, who first touted the legislation late last month. Bukele's New Ideas Party dominates the country's Congress. The bill exempts eligible companies from income tax, capital gains and local government taxes, as well as tariff payments on imported goods that technology businesses need. The new tax incentives for the nascent tech sector are only the latest efforts by Bukele and his allies to re-brand the Central American country as an emerging hub for innovation. In 2021, El Salvador made waves as the first nation to adopt the cryptocurrency bitcoin as legal tender, alongside the U.S. dollar.

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