“We will develop a post-crisis economic plan that will amaze not only our people but the whole world,” President Bukele said. lie. According to official information, the government does not even have a plan.
Lies have become a special element of all government work. Of course, the economic field is no exception. The biggest lie may have to do with Bitcoin. They promise this will attract millions of dollars in investment, bring economic innovation, financial inclusion and the construction of satellite infrastructure to connect rural Salvadorans to the internet, improving the lives of millions of people. did. lie.
In Salvadoran politics, the truth has been buried in a sea of lies. It is an alarming and alarming ‘normalcy’ that some officials can issue false statements without even blushing. Lies have become a symbol of public discourse.
A recent example of this worrying trend is the Treasury Department’s statement that short-term debt restructuring “can have a positive fiscal impact and reduce the country’s public debt.” However, this statement is fundamentally false. By extending the debt term and accepting a higher interest rate, debt repayments actually increase. This is not only a distortion of the truth, but also a blatant manipulation of facts to present a positive image that does not match the country’s fiscal reality. Needless to say, this restructuring is not due to any great government action, but rather the opposite result, especially the inability to obtain external financing, and as Moody’s points out, the government is now relying on private banks. It’s taking more risks. More frankly, it puts more risk on the people who save in those banks.
But these are not the only lies coming from the corridors of power in El Salvador. “In less than two years, our government has succeeded in attracting more investment than we achieved during the entire period of the free trade agreement (with the United States),” the official representative said. However, foreign direct investment data shows that in 2022, the country actually recorded a negative balance in attracting foreign direct investment. This statement is not only false, it also points to a worrying disconnect between political rhetoric and economic reality.
Another example of government deception is when Google claimed it was planning to invest heavily in the country because it was given favorable terms. However, the truth is very different. The Legislative Assembly approved a special law requiring the Salvadoran state to contract with Google services for a minimum of USD 500 million. This is not an investment by Google in El Salvador, but rather a commitment by the Salvadoran government to spend large amounts of money on the services of a foreign company. Again, this lie is used to present a false positive narrative about government actions.
The sad reality is that in El Salvador, lying in politics seems to come at no cost to the person telling it. This lack of results due to a lack of truth in political debate is an alarming symptom of the weakness of democratic institutions and the deterioration of trust in government. When elected leaders can lie without facing the consequences, the very foundations of democracy are undermined.
Lies not only affect public perception, but also have a measurable impact on decision-making and people’s lives. Policies and commitments based on false or misleading information will lead the country down the wrong path and ultimately harm its people, especially the most vulnerable.
Of course, no amount of lying will solve the real problems of the people: increased poverty, increased hunger, and further deterioration of economic conditions.