El Salvador wants to change Bitcoin and secure an IMF loan of $ 1.3 billion
El Salvador wants to change Bitcoin and secure an IMF loan of $ 1.3 billion
- El Salvador would also receive loans of $ 1 billion from the World Bank and $ 1 billion from the Inter-American development bank
- According to the IMF agreement, El Salvador would change a legal obligation to accept the companies to accept Bitcoin as a means of payment
- Since 2021, the IMF has been against the Bitcoin law of El Salvador and calls on the government to "restrict its area of application".
the Financial Times Legal payment of payment accepted in the next few weeks an agreement with the government of El Salvador's President Nayib Bukele will be reached.
It is expected that the deal will relieve further loans of $ 1 billion from the World Bank and one billion US dollars by the Inter-American development bank in the next few years.
As part of the proposed plans, El Salvador would change a legal obligation to accept companies to accept Bitcoin as a means of payment, and instead make it optional. In addition, the government would reduce the budget deficit over a period of three years by cutting cuts and tax increases by 3.5 % of GDP and at the same time increase the reserves of $ 11 billion to $ 15 billion.
IWF against Bitcoin introduction in El Salvador
After the introduction of Bitcoin by El Salvador in 2021, the IMF sent a
This was again challenged in January 2022 when the IMF El Salvador advised to rethink his decision on Bitcoin as a legal means of payment. The IMF EL Salvador recently recommended that Bitcoin strain the burden. Despite the warnings, El Salvador and his President Bitcoin remain loyal and buy more assets in price declines. When Bitcoin reached $ 100,000 for the first time last week, Bukele released a tweet on X, in which he pointed out that his Bitcoin credit was now more than value $ 600 million . https://t.co/qvvfbq7woa pic.twitter.com/wioayg6ztx - nayib bukele (@nayibbukele) 5. December 2024
Source: Coinlist.me
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