New reports from the International Monetary Fund (IMF) indicate that El Salvador complies with the conditions of the loan. One of the main aspects of the loan conditions revolve around stopping Bitcoin’s purchases with public funds, but President Nayib Bukele is keen to overcome obstacles.
El Salvador stops the accumulation of bitcoin to comply with the criticism of the International Monetary Fund
According to details a Journalist Through the Western Ball Department of the International Monetary Fund, El Salvador stopped bitcoin purchases with public sector funds. Rodrigo Valdes, Director of the International Monetary Fund for the Western Hemisphere Department, confirmed the changing government position to achieve compliance with the conditions of the loan.
As part of a $ 1.4 billion loan deal, the International Monetary Fund is asking El Salvador to stop the accumulation of the public sector of bitcoin. Despite the initial decline by President Nayb Boukil, Valdes emphasizes that the government maintains the end of the deal.
Valdes revealed that El Salvador is in complete compliance with loan obligations, which leads to speculation that the country violates its conditions.
“With regard to El Salvador, let me say that I can make sure they are continuing to comply with their commitment that bitcoin does not accumulate by the public financial sector, which is the performance criteria that we have,” Valdes said.
Regardless of the closure of the accumulation of its public sector, the International Monetary Fund notes that the country is driving funds in financial transparency and structural reforms. With the current bitcoin price to $ 100,000, the value of El Salvador is 6,158 BTC 583 million dollars.
Nayib Bukele continues to accumulate BTC daily
Despite the requirements of Bitcoin purchases for the public sector, the country of Latin America continues to accommodate BTC. According to data from the Bitcoin National Office, Al Salvador purchases one Bitcoin daily in challenging the International Monetary Fund.
Instead of reducing the accumulation of BTC on public sector funds, the President of El Salvador Nayeb explores an alternative sources of sources. Bukele previously revealed that Bitcoin’s accumulation in the country will continue amid the pressure of the International Monetary Fund to reduce its options.
The Bitcoin National Office has publicly not publicly unveiled the sources of financing for the daily BTC purchases, which led to the distribution of a wave of speculation. The consensus is that the government clicks on non -public sector entities to operate the daily accumulation of bitcoin.
The country may finance its daily purchases from the strategic Bitcoin reserve profits, with the average purchase price at about 44,000 dollars. Other countries, eager, are looking for the progress of El Salvador, to the strategic bitcoin reserves, as Samsun Mo did a strong condition for Japan.
Regardless of financial inclusion and reducing the dependency of the dollar, President Bokley is looking forward to a set of economic benefits. Ark Invest Cathie Wood predicts that the price of Bitcoin is $ 1.5 million per BTC by 2030, which may send the value of Salvador’s holdings to astronomical levels.
Alio Bokima
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