Skip to content

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

El Salvador votes for new president, Nayib Bukele in the lead

Early results from the electoral tribunal on Sunday indicate presidential hopeful Nayib Bukele is on track to win a first-round victory in the presidential elections.

El Salvador falg Source: Shutterstock

Salvadorans voted in first round presidential elections on Sunday, with early votes just three hours after polls closed, indicating a win for Bukele.

Bukele’s votes came in just over majority at 52% with returns counted from 34.4% of polling stations, according to the electoral tribunal.

Bukele was a former mayor who campaigned as an anti-corruption outsider and describes himself as a leftist, with formed coalitions with other parties.

After its civil war in 1992, El Salvador was governed by leftists from the Farabundo Marti National Liberation Front (FMLN) and its rival, the conservative Nationalist Republican Alliance (ARENA).

The former anti-corruption mayor needs more than 50% of votes to win the presidency, putting an end to the two-party system that has governed for the past three decades.

Challenges ahead for El Salvador’s next president

Analysts say El Salvador's next president will face challenges ahead, including US president Donald Trump's criticism of Central American governments, and issues around migration to the US.

The new president will also have to try to kick-start the country’s economy, combat corruption and tackle one of the highest homicide rates in the world, which many voters say will be too difficult for Bukele, given his lack of experience.

Bukele, says he wants to create an international anti-corruption commission with the support of the UN, following similar committees in Guatemala and Honduras.

‘We'll create a (commission) ... so that the corrupt can't hide where they always hide, instead they'll have to give back what they stole,’ Bukele said in January.

While criticised for siding with the left, Bukele has recently turned away from Latin America's traditional left, branding Venezuelan leader Nicolas Maduro as a dictator.

This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.