According to Cointelegraph, El Salvador President Nayib Bukele has filed paperwork to run for re-election in the country's 2024 presidential election, scheduled for February. Bukele, a Bitcoin advocate, received strong public support on October 26 after being officially nominated by his party. In a speech, he stated that the country needs five more years to continue improving.
Bukele rose to power in 2019 when his political party, Nueva Ideas, broke three decades of two-party dominance. Despite his popularity, critics argue that the country's constitution prohibits Bukele from seeking a second consecutive term. However, in September 2021, El Salvador's Supreme Court ruled that presidents can run for consecutive elections. Bukele's party, New Ideas, is backed by 70% of the country's voting population, according to a study by an El Salvadoran university.
Bukele's government has implemented tech-friendly policies, such as eliminating taxes on technological innovations, and made Bitcoin legal tender in September 2021. His popularity also stems from his crackdown on the MS-13 gang, which has led to a significant drop in the country's homicide rate. However, the United Nations and other critics argue that El Salvador breached human rights laws by imprisoning 65,000 people without affording them legal rights to defend themselves. The presidential election will take place on February 4, 2024.
