El Salvador is not currently on a widespread financial crisis... I mean by Latin American Standards of course. But some things are of concern.

First the country's access to international financing is still limited.

Right now International bondholders are being paid, but two major local debts have been renegotiated.

Last year the national banking association "voluntarily renegotiated" its short term with the government from 1 to 7 years. For context, the banks liquidity requirement has been lowered since 2020 and banks can buy more government issued bonds.

Also last year the ruling party changed the Retirement Fund law. And there have been changes to the individual and collective retirement savings accounts.

One of the changes on the collective accounts was that the old financial instruments that were interest paying were changed for new ones that include a four year 0% interest rate paid back to the account owners.

Information regarding this has been limited to a couple of paragraphs by foreign credit risk rating agencies and a tweet by the Retirement Savings management companies.

There is no publicly available prospectus for that new government debt, and the Retirement Fund statistics and reports haven't been updated for months.

Like if you go to check for a recent report on the regulatory government agency you get literally 404 errors.