International organizations send letter to U.S. Treasury Secretary raising concern about potential IMF loans to El Salvador’s repressive Bukele regime, ask for IMF to impose conditions regarding human rights, transparency, and corruption

13 Dec 2023

December 11, 2023 – International NGOs sent a letter to U.S. Treasury Secretary Janet Yellen expressing concern about the economic situation in El Salvador, including money laundering and corruption, the adoption of Bitcoin as currency, and decreasing transparency, as well as authoritarian rule and serious human rights violations being committed under the current administration. The letter specifically raises alarm about the possibility that, in spite of these concerns, the International Monetary Fund (IMF) will approve a $1.3 billion loan to President Bukele following the February 2024 elections.

The letter requests Secretary Yellen to urge the U.S. Executive Director to the IMF to demand that El Salvador meet certain requirements before the IMF votes on whether to issue them a loan. The requirements requested include ending the ongoing, unconstitutional state of emergency in El Salvador, a repressive security policy under which basic human rights have been consistently repressed and violated; actions to increase transparency; and implementing anti-corrupting policies.

Read the full letter here.