Bitcoin News Today: El Salvador Approves Constitutional Reforms Allowing Bukele to Rule Indefinitely

El Salvador has approved a series of constitutional amendments that effectively allow President Nayib Bukele to remain in office indefinitely, marking a significant shift in the country’s political landscape. The reforms, passed in a 57–3 vote by a legislature dominated by Bukele’s New Ideas party, remove term limits, extend the presidential term from five to six years, and eliminate run-off elections[1]. These changes mean that Bukele’s current term could end on June 1, 2027, instead of the previously scheduled 2029[2].

Supporters of the reforms, including lawmakers from the New Ideas party, argue that the changes will streamline the electoral process, reduce government spending, and better align presidential and congressional elections. Ana Figueroa, a New Ideas member, highlighted that each run-off election costs approximately $50 million—funds that could be used for public infrastructure projects such as schools and hospitals[2]. Suecy Callejas, the First Vice President of the Legislative Assembly, emphasized that the reforms return power to the "Salvadoran people"[2].

However, the reforms have drawn sharp criticism from opposition figures and international observers, who view them as a threat to democratic governance. Marcela Villatoro, a Nationalist Republican Alliance party member, was one of only three lawmakers to vote against the package. She warned that the reforms would lead to an accumulation of power, foster corruption, and weaken political participation[2]. Villatoro’s concerns are echoed by broader concerns over democratic backsliding in El Salvador. Earlier in the year, the government faced international criticism for detaining a human rights lawyer and sentencing another to six months in prison pending trial[2].

Despite the controversy, Bukele remains widely popular domestically. A recent survey conducted by the University of El Salvador’s Public Opinion Laboratory found that more than 78% of respondents approved of Bukele’s leadership during the first year of his second term[2]. Another poll gave him a rating of 8.15 out of 10 for his sixth year in office[2].

Bukele’s government has also pursued a controversial economic strategy, particularly in its approach to Bitcoin. While the official Bitcoin Office claims the country continues to purchase one Bitcoin per day, the International Monetary Fund (IMF) recently stated that no Bitcoin had been bought since El Salvador signed a $1.4 billion loan deal in December 2024[2]. A June report, however, indicated that the country had acquired 240 Bitcoin after the agreement. As of now, El Salvador holds 6,255.18 BTC, with a 31-BTC increase recorded in the past 30 days[2]. The country has also engaged in diplomatic efforts to bolster crypto infrastructure, recently signing a memorandum of understanding with Bolivia’s top bank.

The reforms underscore a broader pattern of consolidating executive power under Bukele’s leadership. While his supporters argue that the changes will enhance governance efficiency and stability, critics fear that they represent a dangerous erosion of democratic checks and balances. The debate reflects a growing tension between centralized authority and democratic norms in El Salvador.

Source:

[1] El Salvador scraps term limits, paving way for Bukele to ... (https://www.bbc.com/news/articles/czd04q87zryo)

[2] El Salvador Now Allows Indefinite Presidential Reelection (https://cointelegraph.com/news/el-salvador-lawmakers-approve-indefinite-presidential-reelection)