El Salvador, the first country in the world to adopt Bitcoin as legal soft, still gets bitcoin despite comments from the International Monetary Fund (IMF) that appear to claim the opposite.
El Salvador’s treasury gets 7 bitcoin (Btc) costs more than $ 650,000 in seven days leading until April 27th, blockchain data from El Salvador’s Bitcoin office Shut up.
Asked about the country’s bitcoin investment, Rodrigo Valdes, director of the Western Hemisphere department of the IMF, said the country continued to comply with its agreement to stop the government’s bitcoin accumulation.
“In terms of El Salvador, I say I can confirm that they will continue to comply with their promise of non -accumulation of Bitcoin through the general sector of fiscal, which is the performance standard we have,” Valdes said in an April 26 Briefing.
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“But above it, I think it’s very important for discussion with El Salvador,” he added. “El Salvador’s program is not about Bitcoin. It’s more, deeper in structural reforms, in terms of management, in terms of transparency.”
In December 2024, El Salvador struck a deal with the IMF For a $ 1.4 billion loan, the government demands that Bitcoin’s status drop as a legal soft and stop BTC accumulation.
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Flexible interpretation leaves room for the purchase of bitcoin
The IMF agreement can still enable the room for purchases by non-government entities, according to Anndy Lian, author and Intergovernmental Blockchain’s author.
“The ‘flexible interpretation’ of the IMF suggests purchases may be involved in non -public sectors or reclassified assets, maintaining technical compliance,” Lian told cointelegraph, addition:
“This alternative approach allows El Salvador to maintain this image friendly Bitcoin while securing the IMF’s critical funding to address unstable debt to public and limited reserves.”
Lian added that El Salvador’s approach features a growing intensity between modern financial and traditional economic policies.
“El Salvador’s experience offers important lessons for countries that explore the Crypto adoption, emphasizing the need for stable regulation and state capacity frameworks to navigate the international pressures,” he added.
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