El Salvador's President Nayib Bukele took the oath for a second term on Saturday, promising to tackle the nation's economic challenges with the same vigor that characterized his battle against gang violence during his initial tenure. Bukele, who secured re-election in February with an overwhelming majority after a contentious court ruling, has articulated his determination to heal the economic 'ailments' of the country. Addressing the crowd from the National Palace balcony in San Salvador, the 42-year-old Bukele reassured the populace that the gang-related violence, which once plagued the nation, was now largely contained. He likened the situation to a sickness, stating, 'Salvadorian society is still sick, but it is no longer cancerous,' in reference to the criminal gangs that previously made El Salvador notorious as one of the world's most dangerous countries. With security significantly improved, Bukele now confronts the challenging task of revitalizing the sluggish economy. Emphasizing the stabilization of security as a top priority, he emphasized the need to address crucial issues, starting with economic revitalization. Despite Bukele's popularity for enhancing security in the 6.3 million-strong country, his economic initiatives have encountered setbacks. The grand Bitcoin City venture, envisioned as a tax-exempt, cryptocurrency-embracing hub, has struggled to attract investments. Moreover, El Salvador's public debt has soared to over $30 billion, amounting to nearly 84% of its gross domestic product. The country currently holds 5,769 Bitcoins valued at approximately $389 million in its treasury, with Bukele disclosing regular daily Bitcoin purchases. (Disclaimer: This content does not constitute investment advice.)