El Salvador ‘Guarantees’ No Risk to Investors Amid Default
- Finance minister says missed payments due to political impasse
- S&P and Fitch both cut nation’s sovereign rating this week
The Presidential Palace in San Salvador, El Salvador, on July 27, 2008.
Photographer: Alejandra Parra/BloombergThis article is for subscribers only.
A political stalemate that caused El Salvador to default on some local debt poses no risk to foreign investors, said Finance Minister Carlos Caceres.
“We regret the worry that this has caused for our investors and we’re aware of the effects of this issue, but we guarantee that other obligations are not affected,” Caceres said in a telephone interview from El Salvador.