IMF Report On El Salvador Is Positive… Except For Everything Bitcoin-Related
In a recent report, the IMF praises the way El Salvador handled the COVID-19 situation and announces that their economy grew 10% in 2021. The International Monetary Fund also recognizes El Salvador’s government efforts to reduce crime, “diversify the energy matrix, foster economic diversification, and enhance financial inclusion.” However, when it comes to Bitcoin, the IMF is completely against it. As they should. Because Bitcoin renders the IMF irrelevant. But first, let’s learn what the report titled “El Salvador: Staff Concluding Statement of the 2021 Article IV Mission” is about: “A....
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The outpour of Bitcoin-related news from El Salvador, AKA Bitcoin Country, slowed down. It’s the calm before the storm. The Bitcoin Law goes into effect in September. Nevertheless, things are happening and Bitcoinist is here to report on them. Who else but us reports on the little things that add up and end up changing […]
Time to check back with El Salvador. During Bitcoin Week, it was so hectic down there that we didn’t know where to start. Everybody in the Bitcoin space visited San Salvador and El Zonte. The highlight was that President Bukele announced the project to build Bitcoin City and to issue $1B Bitcoin bonds to finance […]
Tourism is booming in El Salvador. Since September, when the Bitcoin Law went into effect, it’s up by “more than 30%.” Good news all around, right? But, how did the media react? How did they report on these numbers? We’ll find out after the quotes from Morena Valdez, Minister of Tourism, who told El Salvador […]
How embarrassing! As more details about JPMorgan ’s “The Bitcoinization of El Salvador” report come to light, the reality of the situation settles. Traditional organizations don’t have a clue that the Lightning Network exists and is up and running. More so, Bitcoin is legal tender in El Salvador because and only because El Zonte is […]
The International Monetary Fund (IMF) has been very critical of cryptocurrencies and according to a report on Tuesday, the IMF’s board has “urged” El Salvador to discontinue its bitcoin tender status. A few members of the IMF’s board said the country’s decision to leverage bitcoin within its financial system could pose risks.
IMF Report Attempts to Persuade El Salvador to Drop Bitcoin Legal Tender Status, Director’s Are Concerned About Bitcoin Bonds and Chivo Wallet’s Regulatory Oversight
According to a report published by the....