How Nayib Bukele Help El Salvador

When Nayib Bukele became president of El Salvador in 2019, El Salvador was in dire shape. Its economy was stagnant, and it ranked among countries with the highest crime rates globally. But with a combination of dramatic measures coupled with strategicinitiatives, Bukele reversed fortunes quicker than most anticipated. One of his greatest achievements has been turning around the economy of his country, securing the interest of foreign investors, and positioning El Salvador at the forefront of the world economy, especially with his contentious but revolutionary step of legalizing Bitcoin.

One Of Bukele’s Most Famous Moves Was Making Bitcoin Legal Tender In 2021 To Boost El Salvador’s Economy

In 2021, Bukele made history by becoming the first country in the world to adopt Bitcoin as legal tender, a move that raised eyebrows globally. His reasoning? El Salvador has one of the highest rates of unbanked people in the world—around 70% of the population doesn’t have access to traditional banking services. By adopting Bitcoin, Bukele aimed to include more people in the financial system and boost the economy by attracting international investment.

Through his Bitcoin Law, Bukele made it easier for Salvadorans to send money via cryptocurrencies, especially for those living abroad. Since remittances make up about 20% of the country’s GDP, using Bitcoin could reduce the fees on these money transfers, which had been costing families a significant portion of their income. Bukele also rolled out a state-backed Bitcoin wallet called Chivo, offering Salvadorans a chance to trade Bitcoin with no commission fees, further driving adoption.

Though the decision was controversial and Bitcoin’s value has fluctuated, Bukele’s move put El Salvador on the map as an innovative country willing to try unconventional solutions to boost its economy.

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Bukele’s Anti-Gang Efforts Helped To Dramatically Reduce Crime And Make The Country Safer For Its People

One of the major challenges that El Salvador faced before Bukele took office was its out-of-control gang violence. In 2015, El Salvador had one of the highest homicide rates in the world, with around 6,600 murders reported that year. Gangs, like the infamous MS-13 and Barrio 18, controlled large areas, and citizens lived in constant fear.

Bukele’s approach was to take a tough stance against crime. He launched the “Territorial Control Plan” in 2022, which brought thousands of soldiers and police officers into high-risk neighborhoods to crack down on gang activity. In addition, his government passed emergency laws allowing for the detention of suspected gang members without trial, significantly expanding the prison system and isolating many gang leaders.

The record speaks for itself. Based on official statistics, El Salvador recorded a dramatic decrease in murders, with less than 250 homicides in 2023, compared to 6,600 only eight years prior. This dramatic crime rate decrease has enabled Salvadorans to feel secure, go about their normal lives, and built a more secure climate for locals and foreign businesses alike to flourish. Bukele’s emphasis on security is clearly paying off to make El Salvador a safer country.

Nayib Bukele Helped El Salvador Establish A New Relationship With The International Community Through Strategic Diplomacy

Bukele's accomplishment in elevating El Salvador's profile globally is based on his diplomacy. Under Bukele, El Salvador has fostered better relations with different nations, from America to China, and with multinational institutions. Bukele's administration has pursued partnerships with vigor to increase trade, invite foreign investment, and secure technical assistance in projects such as digital infrastructure and environmental conservation.

While some of his policies have been called to question—his contentious relationship with the courts being foremost among these—his overall presence abroad has allowed El Salvador to become an increasingly viable player on the world stage. By forging such relationships, Bukele has made El Salvador an established presence that's respected for what it can accomplish, securing commercial and political partnerships that could carry it forward.

Nayib Bukele’s Legacy In El Salvador Is Still Being Written, But He Has Already Helped The Country In Major Ways

While his presidency continues to unfold, there’s no doubt that Nayib Bukele has made a lasting impact on El Salvador. From adopting Bitcoin to cutting down crime and rebuilding infrastructure, Bukele has worked hard to change the country’s trajectory. Despite the controversies surrounding his leadership, especially regarding his unconventional approach, El Salvador’s economy is in a better position today than it was just a few years ago.

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Business Number: (224) 214-0145

Business Email: support@sparklymaid.com

Business Address: Chicago, IL