One of them being that El Salvador lost affordable access to the international bond market for a good part of the past years due to higher country investment risk, there were multiple reasons for that that are too long for one comment.
Some for the consequences have been:
The government switched to funding their bonds locally, including a good chunk of the local banks deposits which then the banks had to refinance to a longer longer term.
The government has been taking a good chunk of the pension funds with no interest paid back. Few details about this deal are available because the pension fund administrators and government supervisors have stopped publishing most of the financial reports for months.
because they started the experiment 20b in debt and have also managed to do a massive crime clean up + survive covid in that time. bitcoin is an overall benefit, but they are burdened but what has been
