El Salvador Debt Soars as IMF Says Progress Made Toward Deal
- Country’s bonds lead emerging-market gains Wednesday
- Investors say IMF agreement as catalyst for bond prices
A Bitcoin sign at a clothing stall in San Salvador, El Salvador.
Photographer: Camilo Freedman/BloombergThis article is for subscribers only.
Bonds from El Salvador were the biggest gainers in emerging markets Wednesday after the International Monetary Fund said it reached “preliminary understandings” with the nation as they negotiate a new lending deal.
Notes due in 2052 jumped 2.6 cents to 80.4 cents on the dollar, the biggest one-day advance in over a month, according to indicative pricing data collected by Bloomberg.