Bitcoin or IMF? El Salvador Faces Tough Choices on Economic Strategy
El Salvador recently struck a $1.4 billion agreement with the IMF to stabilize its economy, but President Bukele’s ongoing Bitcoin purchases may jeopardize the deal.
The IMF reportedly required El Salvador to scale back Bitcoin activities, including repealing its legal tender status, yet Bukele has accelerated Bitcoin acquisitions, purchasing 29 BTC in a week.
The pact, still pending approval by the IMF’s executive board, now faces uncertainty as observers question if Bukele’s actions will disrupt months of negotiations and delay critical funding for the nation.
Clever Robot News Desk 25th December 2024
