Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

On Sunday, Nayib Bukele, the 37-year-old former mayor of San Salvador, won a first-round victory in El Salvador's presidential election, handily vanquishing candidates from the country's two major parties. Bukele, who was expelled from the left-wing FMLN party in 2017 following an internal dispute and ran as the candidate of the center-right GANA party, made history as the first third-party candidate to win the presidency since the end of El Salvador's civil war in 1992.

El Salvador's President-elect Nayib Bukele and his wife, Gabriela Rodriguez de Bukele, in San Salvador, Feb. 3. Photo: Alfredo Zuniga/Anadolu Agency via Getty Images

Why it matters: El Salvador is a longtime ally and free-trade partner of the U.S., but recent relations have been tense owing to the outgoing government's close ties with Venezuela and its decision last August to drop diplomatic recognition of Taiwan in favor of China. Moreover, El Salvador is 1 of 3 countries, along with Guatemala and Honduras, that together make up Central America's Northern Triangle, which has been a chief source of migrants to the U.S.–Mexico border, prompting the ire of the Trump administration.

Details: While Bukele had led his chief rivals in polls — businessman Carlos Calleja of the conservative ARENA party and former Foreign Minister Hugo Martinez of the FMLN Party — his haul of nearly 54% of the first-round votes avoids a runoff that would have occurred on March 10.

  • Voters were disenchanted by the failure of leaders from ARENA and FMLN to curb crime and corruption over the past 25 years, which created an opening for Bukele to emerge as a fresh, new face.
  • During the campaign, Bukele called Venezuelan President Nicolás Maduro a "dictator" and criticized renewed ties with China, but did not make any major proposals around migration. All this suggests that he may take a more cooperative stance toward Washington.

What to watch: El Salvador's population of 6.3 million has been beset in recent years by high crime, stagnant growth and corruption scandals that have shaken faith in government. Bukele leaned heavily on his strong social media presence, including 1.4 million Facebook followers, coupled with tough rhetoric on fighting corruption to win a historic victory. But his campaign was light on details, and it remains to be seen how he will put his governing plans into practice.

Daniel P. Erikson is managing director at Blue Star Strategies and a senior fellow at the Penn Biden Center for Diplomacy and Global Engagement.

Go deeper

Trump set to appear at Pennsylvania GOP hearing on voter fraud claims

President Trumpat the White House on Tuesday. Photo: Chip Somodevilla/Getty Images

President Trump is due to join his personal lawyer Rudy Giuliani in Gettysburg, Pennsylvania, Wednesday at a Republican-led state Senate Majority Policy Committee hearing to discuss alleged election irregularities.

Why it matters: This would be his first trip outside of the DMV since Election Day and comes shortly after GSA ascertained the results, formally signing off on a transition to President-elect Biden.

Scoop: Trump tells confidants he plans to pardon Michael Flynn

Photo: Alex Wroblewski/Getty Images

President Trump has told confidants he plans to pardon his former national security adviser Michael Flynn, who pleaded guilty in December 2017 to lying to the FBI about his Russian contacts, two sources with direct knowledge of the discussions tell Axios.

Behind the scenes: Sources with direct knowledge of the discussions said Flynn will be part of a series of pardons that Trump issues between now and when he leaves office.

Erica Pandey, author of @Work
10 hours ago - World

Remote work shakes up geopolitics

Illustration: Eniola Odetunde/Axios

The global adoption of remote work may leave the rising powers in the East behind.

The big picture: Despite India's and China's economic might, these countries have far fewer remote jobs than the U.S. or Europe. That's affecting the emerging economies' resilience amid the pandemic.