Bitcoin Adoption in El Salvador Poses Credit Hurdles with IMF
El Salvador’s Bitcoin adoption has complicated its negotiations with the IMF, with the institution requiring changes to the country’s Bitcoin law for a $1.4 billion credit line.
The IMF has made it clear that Bitcoin’s risks are a significant factor in discussions with El Salvador. President Bukele’s steadfast support for crypto policies, including purchasing 1 BTC daily, contrasts with the IMF’s concerns.
Alternative Bitcoin-based funding options, like Volcano bonds, have faced delays, prompting Bukele to explore fresh avenues leveraging Bitcoin’s value in negotiations set to resume on April 15.
Clever Robot News Desk 11th April 2024
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