El Salvador's Congress on Tuesday gave the green light to take out loans and issue new debt worth a total of $542.2 million, as the Central American nation looks to boost tourism and repay some state debt.
Lawmakers approved the government's bid to seek $436.2 million through loans or an issue of securities in the domestic and international markets to repay debts this year.
S&P Global Ratings in September warned it could cut El Salvador's already non-investment-grade credit rating if the country did not make "adequate progress" in reducing its debt.
