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Despite his widespread popularity, a debate ensues regarding Nayib Bukele’s eligibility for re-election under El Salvador’s constitution. Bukele, the President of El Salvador, has formally submitted his candidacy for the upcoming presidential election scheduled for February 2024. Known as a staunch advocate for Bitcoin, Bukele garnered substantial public support on October 26th, following his party’s official nomination for a second term. In front of a multitude of Salvadorans, he passionately exclaimed, “Five more years, five more, and not one step back. We need five years to continue improving our country.”
Bukele ascended to power in 2019, marking the end of a three-decade-long dominance by the Nationalist Republican Alliance and the Farabundo Martí National Liberation Front (FMNLB), two established political parties. Nevertheless, despite his immense popularity, critics like Salvadoran lawyer Alfonso Fajardo contend that the country’s constitution expressly forbids a consecutive presidential term.
“On this day, it is imperative to remember that the Constitution explicitly prohibits immediate presidential re-election up to seven times,” declared Fajardo on October 26th. However, a pivotal turning point came in September 2021 when El Salvador’s Supreme Court decreed that presidents could indeed seek consecutive terms.
New Ideas, Bukele’s political party, enjoys the support of a staggering 70% of the country’s voting population, as reported by Reuters, which cited a study conducted by a Salvadoran university. In sharp contrast, its closest rival managed to secure a mere 4% of the total votes.
FMNLB, one of New Ideas’ competing parties, initiated legal proceedings in June 2021, asserting that Bukele’s Bitcoin adoption program ran contrary to the constitution. However, the complaint made little headway, as Bukele and El Salvador subsequently made Bitcoin a legal tender just three months later in September 2021.
The Bukele administration also implemented tech-friendly policies designed to bolster the country’s economy, including the abolition of taxes on technological innovations. Notably, Gabor Gurbacs, a strategy advisor at VanEck, recently opined that El Salvador has the potential to evolve into the “Singapore of the Americas.”
Bukele’s substantial popularity can be attributed, in large part, to his resolute stance against MS-13, a transnational criminal organization that significantly contributed to El Salvador’s former notoriety as a nation with the highest homicide rates worldwide. As a direct result of these decisive measures, El Salvador’s homicide rate plummeted by an astonishing 92.6% from its peak of 106 per 100,000 inhabitants in 2015, down to a mere 7.8 in 2022, now boasting one of the lowest crime rates in Latin America.
However, it is imperative to acknowledge that the United Nations and other critics contend that El Salvador has breached international human rights laws by detaining 65,000 individuals without affording them legal rights to defend themselves.
The post <a rel="noopener noreferrer nofollow" href="https://bitcoinworld.co.in/bukele-reelection/">President of El Salvador, Nayib Bukele, has announced his reelection campaign.</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://bitcoinworld.co.in">BitcoinWorld</a>.

President of El Salvador, Nayib Bukele, has announced his reelection campaign.

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