Bukele swims against strong current in El Salvador
Nayib Bukele, the president-elect of El Salvador, will face a very heavy burden when he takes power in El Salvador where the economy has stagnated and levels of investment have been among the lowest in Latin America.
A fiscal reform is urgently required. The new Administration will need an extra $700 million at the very least in order to balance the nation's books.
But Bukele's GANA alliance has a mere 11 seats in the Congress, while the rightwing ARENA has 37 and the leftist FMLN 23.
The ratings agency Fitch adds that there is "a risk of polarization and 'political confrontation'.