El Salvador’s Bitcoin Experiment: $60 Million Lost, $375 Million Spent, Little to Show So Far

Data from Bloomberg Economics shows that El Salvador tops its ranking of emerging market countries that are vulnerable to a debt default. Even as it retires some of its outstanding debts, the country’s domestic and multilateral loan obligations pose a real threat, in part because the world’s biggest lenders aren’t too keen to give cash to a country betting its future on one of the most volatile assets on the planet.

Pair these economic woes with a renewed war on gang violence and the country is barreling toward uncertainty.

“The government claims the developments as a success, but most local commentators and international watchers are underwhelmed,” Rachel Ziemba, founder of Ziemba Insights, told CNBC.

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