El Salvador new stadium in truck with China



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El Salvador new stadium backed by China Image: @nayibbukele (Twitter)

El Salvador will build a new national stadium in collaboration with China. The President of El Salvador, Nayib Bukele, said in a Spanish-language Twitter post recently.

The ‘yahoo!finance’ quoted Bukele as tweeting in Spanish and referring to the President of China, Xi Jinping, “This is a collaboration granted directly by President Xi and a sample of the friendship between the people of China and El Salvador.”

The new stadium will have a seating capacity of 50,000, Bukele said in the tweet. It will be built in the current location of the country’s military school in Santa Tecla, which will be rebuilt elsewhere and have twice the capacity it has now. Bukele telegraphed the announcement in an earlier tweet.

The ‘yahoo!finance’ further stated that in September 2021, El Salvador became the first – and so far only – country to designate bitcoin legal tender – “We must break the paradigms of the past. El Salvador has the right to move toward the First World,” Bukele said at the time.

The decision has been criticized. The International Monetary Fund (IMF) in November said bitcoin shouldn’t be used as legal tender in El Salvador and urged the Central American country to strengthen the regulation and supervision of its newly established payment system.

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