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☆ El Salvador Electoral Tribunal Green Lights Bukele's Re-Election Bid
  + stars: | 2023-11-03 | by ( Nov. | At P.M. | ) www.usnews.com   time to read: 1 min
SAN SALVADOR (Reuters) - El Salvador's electoral tribunal on Friday approved President Nayib Bukele's candidacy in next year's presidential election, where he will seek a second term that would keep him in office until 2029 if reelected. The decision comes a week after the 42-year-old president formally filed paperwork to run for re-election, despite concerns over his constitutional eligibility to seek a consecutive term. Members of the electoral tribunal are elected by Congress, which is controlled by the president's New Ideas party. While critics question Bukele's ability to seek a second term citing a constitutional prohibition, the country's top court ruled he could run in 2021. (Reporting by Gerardo Arbaiza; Writing by Brendan O'Boyle; Editing by Isabel Woodford)
Persons: Nayib Bukele's, Gerardo Arbaiza, Brendan O'Boyle, Isabel Woodford Organizations: SALVADOR, Reuters, Congress
☆ El Salvador deploys 10,000 troops to gang-run capital suburb
  + stars: | 2022-12-03 | by ( ) www.reuters.com   time to read: +2 min
[1/5] Troops walk in the suburb of Soyapango, after El Salvador's President Nayib Bukele announced the deployment of 10,000 security forces to the troubled area which for years has been considered a stronghold of the violent Mara Salvatrucha and Barrio 18 gangs, in San Salvador, El Salvador December 3, 2022. REUTERS/Jose CabezasSAN SALVADOR, Dec 3 (Reuters) - El Salvador's President Nayib Bukele announced Saturday the deployment of 10,000 security forces to a suburb of San Salvador known to be a stronghold for gangs. Images released by the government showed troops carrying heavy weapons, helmets and bulletproof vests, traveling in war vehicles. The municipality has a population of about 300,000 and was previously considered impregnable for law enforcement. Reporting by Gerardo Arbaiza; Edited by Noé Torres and Alexander Villegas and Franklin PaulOur Standards: The Thomson Reuters Trust Principles.
☆ El Salvador govt seeks Congress approval to issue bitcoin-backed bonds
  + stars: | 2022-11-23 | by ( ) www.reuters.com   time to read: +2 min
SAN SALVADOR, Nov 23 (Reuters) - The government of El Salvador, the first country in the world to adopt bitcoin as legal tender, is seeking congressional approval to issue investment bonds in the cryptocurrency. El Salvador's government-controlled legislature announced late on Tuesday it had received a bill dubbed the "Digital Assets Issuance Law," aimed at regulating the offering of such bonds to local and foreign investors. The proposal comes a year after President Nayib Bukele announced he would launch so-called "volcano bonds" to raise $1 billion to finance his "Bitcoin City" project, which included building a town on the Salvadoran coast funded by bitcoin-backed bonds. Bukele later revealed the bonds were named after El Salvador's 170 volcanoes, which would provide geothermal energy to support bitcoin mining projects. Reporting by Gerardo Arbaiza; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.
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