Nayib Bukele Steps Down as El Salvador's President Ahead of Re-Election Bid

The President of El Salvador takes leave of absence to focus on campaign

Nayib Bukele, the President of El Salvador who championed the adoption of Bitcoin as legal tender, has resigned from office to concentrate on his re-election campaign.

Bukele officially stepped down as President on December 1, following approval from the country's Legislative Assembly. This allows him to take a leave of absence to focus on his campaign for the 2024 re-election. In the meantime, Acting President Claudia Rodríguez de Guevara will serve until June 2024. The general election is scheduled for February 2024.

"Current state of democracy in El Salvador: the office of the President of the Republic will be occupied by a person for whom no one has ever voted," said Héctor Silva, a candidate for the mayor's office of San Salvador.

A legacy of crime reduction and pro-crypto policies

Bukele, who took office in June 2019, quickly gained recognition for his efforts to decrease the homicide rate in El Salvador, which was one of the highest in the world at the time. He also became known for his pro-crypto policies. In September 2021, he advocated for the Salvadoran government to adopt Bitcoin as legal tender and pushed for the establishment of a volcano-powered 'Bitcoin City' in the country.

However, critics have raised concerns about human rights violations in El Salvador's crackdown on gang activity. Despite the significant drop in the homicide rate under Bukele's leadership, a report from the United Nations human rights office in March highlighted the country's "mass detentions" since 2022, during which many individuals were mistreated or died in custody.

Presidential term and eligibility for re-election

The President of El Salvador serves a five-year term. Prior to September 2021, the country's constitution required presidents to wait ten years before running for re-election. However, the Supreme Court of El Salvador ruled at that time that a president can serve two consecutive terms.

For more on what it's like to use Bitcoin in El Salvador, check out our magazine feature.