The President of El Salvador, Nayib Bukele, recently announced his aspiration for the country’s economic transformation to surpass even its remarkable security achievements.
El Salvador, once known as one of the most dangerous and violent countries in the world, is now among the safest.
With security largely restored, Bukele’s next priority is to elevate the nation’s economic standing.
“Our next goal is for the world to see El Salvador more for its economic miracle than for its security miracle. It will take a few years, but we are on the right path. Thank God,” Bukele declared.
Nuestra próxima meta es que el mundo vea a El Salvador más por su milagro económico que por su milagro en seguridad.
Tomará algunos años, pero estamos en el camino correcto.
Gracias a Dios.
— Nayib Bukele (@nayibbukele) October 17, 2024
Among the early responders to his statement was Christian Guevara, a pro-government deputy and the president of the Finance Committee.
Guevara boldly predicted that El Salvador could become the “new Singapore,” emphasizing that it’s only a matter of patience and trust.
To better understand this shift, one can reference Maslow’s Pyramid of Needs, which illustrates how the most fundamental requirement for societal well-being is security.
With that need met, El Salvador is now positioned to focus on economic growth.
Security has laid the groundwork, but economic development is what will further lift the country.
As Bukele puts it, without safety, trade, entrepreneurship, and tourism all suffer.
One of the initial measures to bolster the economy is debt refinancing.
According to Bloomberg, the government is preparing to manage substantial amounts of debt while also allocating funds for environmental conservation efforts.
The Minister of Financed commented on X:
Con esta operación de conversión de deuda por naturaleza estamos suavizando nuestro perfil de vencimiento. Nuestro Gobierno está comprometido con seguir mejorando el desempeño de la finanzas públicas y la sostenibilidad de la deuda. 🇸🇻 https://t.co/eqUt2bIF6T
— Jerson Posada (@JersonPosadaSV) October 17, 2024
Bukele’s evolving economic focus not only strengthens his domestic standing but also distances him from his earlier political associations.
While a look at his past shows connections to Chavismo and Castroism, today he is more aligned with right-wing ideals, particularly due to his tough stance on crime.
His prominent role as a speaker at CPAC, the largest conservative summit in the world, reflects this shift.
Despite his past, his current trajectory and economic ambitions set him apart from the traditional leftist axis.
Still, some critics remain wary of his past and question his future political intentions, accusing him of attempting to remain in power indefinitely, in violation of the Constitution. Yet, his overwhelming electoral victories indicate broad popular support for his leadership.
Now, Bukele is offering more than just a firm hand on crime; he is aiming for lasting economic and social prosperity for El Salvador.
María Herrera Mellado es una abogada de EE.UU. y licenciada en España. Doctora en Ciencias Jurídicas y Analista política. La Dra. Herrera es conocida por su amplia experiencia en análisis y consultas en el diseño de políticas públicas, propuestas de ley y gestión en relaciones internacionales.
Su reconocimiento proviene de sus contribuciones al análisis y representación legal de diversas organizaciones, empresas e individuos que han visto abusados sus derechos humanos, su privacidad o en la inclusión de políticas efectivas fundamentalmente en el ámbito de la transparencia y la rendición de cuentas, así como la lucha contra la corrupción.
Su formación académica y experiencias profesionales la convierten en una voz respetada en el debate público y en el análisis de temas de actualidad sobre todo en los desafíos políticos y legales contemporáneos.
María Herrera Mellado is a U.S.-based attorney also licensed in Spain. She holds a PhD in Legal Sciences and is known as a media legal and policy analyst.
Dr. Herrera is recognized for her extensive experience in analyzing and consulting on public policy design, legislative proposals, and international relations management.
Her recognition stems from her contributions to the analysis and legal representation of various organizations, companies, and individuals whose human rights or privacy have been violated, or who have benefited from the inclusion of effective policies, primarily in the areas of transparency, accountability, and the fight against corruption.
Her academic background and professional experience make her a respected voice in public debate and in the analysis of current issues, particularly in contemporary political and legal challenges.
Subscribe to Our Newsletter
