Bitcoin makes IMF hesitant to issue new loans to El Salvador
IMF Communications Director Julie Kozack reiterated today that “addressing risks arising from Bitcoin is a key element of these discussions” in reference to negotiations between El Salvador and the IMF regarding a loan program. El Salvador is still heavily indebted, and Bitcoin is not helping the country refinance its debts with the International Monetary Fund (IMF). According to the IMF, its member countries should not grant crypto assets official currency or legal tender status. El Salvador did not follow those instructions. After El Salvador, IMF mighty worried about more nations adopting Bitcoin Read more: El Salvador Bitcoin agency reportedly made $235 this year, $7M off target As of June 30, the country owed a relatively manageable $188 million (143.6 milion SDRs valued at $1.31534 apiece) in outstanding debt to the IMF. Although the figure is relatively small for a sovereign nation, credibility with the IMF is critical to El Salvador for its refinancing of existing...