El Salvador continues to purchase Bitcoin despite agreement with IMF... "President Bukele's determination is firm"
Summary
- El Salvador reportedly continues to purchase Bitcoin despite the agreement with the IMF.
- President Nayib Bukele has expressed a strong determination to purchase Bitcoin.
- El Salvador has adopted Bitcoin as legal tender, and it remains an important factor in the Salvadoran economy.
It has been revealed that the government of El Salvador continues to purchase Bitcoin (BTC) despite agreeing to loan conditions with the International Monetary Fund (IMF), which included halting Bitcoin purchases.
According to Bloomberg on the 30th (local time), Maria Luisa Hayem, El Salvador's Minister of Economy, stated in a live interview at the Web Summit held in Rio de Janeiro, Brazil, that "President Nayib Bukele has a strong determination to continue purchasing Bitcoin," and "Bitcoin purchases have been very important to us in the past and remain so today."
El Salvador, which adopted Bitcoin as legal tender in 2021, promised to strengthen fiscal soundness and reduce Bitcoin purchases in exchange for a $1.4 billion loan from the IMF at the end of last year.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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