IMF said ‘Efforts will continue’ to ensure that El Salvador will not accumulate more BTC
International Monetary Fund (IMF) said Tuesday that “Efforts will continue” to ensure that the total amount of Bitcoin
El Salvador’s government holds unchanged.
Back in March, El Salvador came to an agreement with the IMF to receive a $ 3.5 billion loan package. Some of the conditions of the deal concerned with Bitcoin: for example, cryptocurrency officially lost its status as legal soft, which means traders do not have to accept money on a mandated basis.
One of the package conditions, according to the IMF, is the prohibition of “voluntary bitcoin accumulation of the public sector.” In theory, that means Buklele’s government is not allowed to keep Bitcoin accumulating if it wants to continue to comply with the loan program.
However, El Salvador continues to buy more bitcoin in apparent contradiction in terms of dealings. On March 4, When deal conditions are introducedThe Salvadoran government is held 6,101.15 Bitcoin in its official wallet. As of writing, that number rose to 6,189.18 Bitcoin, an amount worth about $ 678 million.
“No, it doesn’t stop,” Salvadorn Nayib Buklele president Na -Post On X on March 4. “If it didn’t stop when the world was ostracizing us and most ‘Bitcoiners’ left us, it won’t stop now, and it won’t stop in the future.”
The IMF does not seem to recognize any contradiction or dispute in its note. In fact, it said the performance of the program became strong and the main targets in the fiscal and reserve were addressed.
“IMF staff thanks Salvadorn authorities for good cooperation and constructive discussions,” the report said.
