“El Salvador Has Kept Purchasing Bitcoin, But The IMF Sems Unfazed.”, – WRITE: www.coindesk.com
Held by El Salvador’s Government Does Not Change.
Back in March, El Salvador Reached An Agreement with the IMF to Receive A $ 3.5 Billion Loan Package. Some of the Conditions of that Deal Concerned Bitcoin: For Example, The Cryptocurrency Official Lyst Its Status As Legal Tender Basis.
One of the Conditions of the Package, accounting to the IMF, was the Prohibration of “Voluntary Acumulation of Bitcoin by the Public Sector.” In theory, that should mean that bukele’s government woldn’n be permitted to keep accounting bitcoin if it was wanted to keep comply with the loan Program.
Neverthaless, El Salvador Has Kept Purchasing More Bitcoin in Apparent Contradification With The Terms of the Deal. On March 4, WHEN The CONDITIONS OF THE DEAL WERE Made Known, The Salvadoran Government Held 6,101.15 Bitcoin In ITS Official Wallet. As of writing, that Number Has Risen to 6,189.18 Bitcoin, A SUM WORTH Approximately $ 678 Million.
“NO, IS NOT STOPING,” SALVADORAN President Nayib Bukele Posted on X on March 4. “If It Didn’s The Future. ”
The IMF Didn’t Seem to Acknowledge Any Contragramcy or Friction in Its Note. In Fact, It Stated that Program Performance Had Been Strong and that Key Fiscal and Reserve Targets Had Been Met.
“IMF Staff Thank the Salvadran Authoritities for the Excellent Collaboration and Constructive Discussions,” The Report Said.
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