Post by SamBrown on Mar 16, 2022 4:59:37 GMT
El Salvador, the Central American country that adopted bitcoin as a legal tender last year, announced in November its plans for a crypto-backed bond and said February 8 that it would come as soon as Wednesday. But the country's finance minister said now there is a "timing issue," Reuters reported.
"We believe that between March 15 and 20 is the right timing, we have the tools almost finished. But the international context will tell us ... I didn't expect the war in Ukraine," El Salvador Finance Minister Alejandro Zelaya told a local TV station on Friday, according to Reuters.
Just two weeks after El Salvador announced the window for its bitcoin bond, Russia launched a full-scale attack on Ukraine, which has sparked international outrage. The West has responded with sanctions that have led bond markets to broadly expect a default by Moscow, among other impacts.
"We believe that between March 15 and 20 is the right timing, we have the tools almost finished. But the international context will tell us ... I didn't expect the war in Ukraine," El Salvador Finance Minister Alejandro Zelaya told a local TV station on Friday, according to Reuters.
Just two weeks after El Salvador announced the window for its bitcoin bond, Russia launched a full-scale attack on Ukraine, which has sparked international outrage. The West has responded with sanctions that have led bond markets to broadly expect a default by Moscow, among other impacts.