📰 IMF still approved lending to El Salvador this time: the Executive Board completed the second and third reviews of the $1.4 billion Extended Fund Facility arrangement, approving the immediate disbursement of $139 million.
🔥 The point of contention remains Bitcoin. El Salvador did not fully meet some of the planned benchmarks, including those related to Bitcoin holdings. Previously, the government was deemed to have violated conditions restricting further accumulation of Bitcoin, but after taking corrective measures and re-committing, the IMF ultimately granted a waiver.
There’s also a key detail here: documents submitted by El Salvador show that the additional Bitcoin added after the first review came from private donations, not public funds. This adds an extra layer of nuance to the claim that the government continues to use public finances to buy coins.
💡 The IMF also acknowledges that El Salvador’s economic performance is better than expected, citing improvements in security and increased investor confidence. The country has also made progress in anti-money laundering, fiscal transparency, and transferring the majority ownership and control of the state-run digital wallet Chivo to private operators.
🤔 Honestly, this seems more like both sides continuing to negotiate conditions rather than the IMF’s sudden change of stance on Bitcoin. Do you think El Salvador will keep expanding its state-level BTC holdings in the future?
#萨尔瓦多 #IMF #BTC #Bitcoin adoption
🔥 The point of contention remains Bitcoin. El Salvador did not fully meet some of the planned benchmarks, including those related to Bitcoin holdings. Previously, the government was deemed to have violated conditions restricting further accumulation of Bitcoin, but after taking corrective measures and re-committing, the IMF ultimately granted a waiver.
There’s also a key detail here: documents submitted by El Salvador show that the additional Bitcoin added after the first review came from private donations, not public funds. This adds an extra layer of nuance to the claim that the government continues to use public finances to buy coins.
💡 The IMF also acknowledges that El Salvador’s economic performance is better than expected, citing improvements in security and increased investor confidence. The country has also made progress in anti-money laundering, fiscal transparency, and transferring the majority ownership and control of the state-run digital wallet Chivo to private operators.
🤔 Honestly, this seems more like both sides continuing to negotiate conditions rather than the IMF’s sudden change of stance on Bitcoin. Do you think El Salvador will keep expanding its state-level BTC holdings in the future?
#萨尔瓦多 #IMF #BTC #Bitcoin adoption
