El Salvador’s Top Judges, Attorney General Ousted by Ruling Party
- Firings criticized, by U.S., OAS and human rights groups
- Moves seen as President Bukele tightening grip on power
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El Salvador’s bonds fell Monday by the most since the onset of the Covid-19 pandemic after the ruling party took control of the top court and replaced the attorney general, fueling speculation that President Nayib Bukele is prioritizing the consolidation of power over efforts to shore up the economy.
El Salvador’s dollar bonds coming due in 2025 fell 5.9% to 97.81 cents on the dollar, the biggest one-day decline since March 18, 2020. That sent yields up more than two percentage points to 7.01%.