El Salvador Bonds Extend Slump on Plans to Overhaul Constitution

Dollar bonds are worst performers in EM over last three months
Government proposes more than 200 changes to constitution

Nayib Bukele delivers a speech to Congress at the Legislative Assembly building in San Salvador, El Salvador, on June 1.Photographer: Camilo Freedman/Bloomberg

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By Michael D McDonald and Sydney Maki

August 12, 2021 at 1:05 AM UTC

Updated on

August 12, 2021 at 5:05 PM UTC

This article is for subscribers only.

El Salvador’s bonds fell after the government proposed more than 200 changes to the constitution, including an extension of presidential terms.

Dollar notes due in 2035 headed for their lowest in nine months on Thursday, a day after Vice President Felix Ulloa said the government had readied a draft proposal that it will present to the public next week.