El Salvador Continues to Buy Bitcoin Despite IMF Agreement
El Salvador bought five bitcoins today, and President Bucker claims the country does not intend to stop in the future. However, the government signed an agreement with the International Monetary Fund to require the public sector to no longer voluntarily purchase BTC.
Some community members speculated that the agreement included some extensions that the public did not know. Otherwise, the agreement and $1.4 billion in related loans could explode in everyone’s face.
El Salvador continues to buy Bitcoin
Because El Salvador made Bitcoin Legal tender for 2021, Central American countries Has become the main holder of BTC. However, after years of fighting relationships with international financial institutions, the IMF Try to soften its anti-currency policy Last October.
El Salvador Agree to amend its lawsbut it have Since the inventory of assets continued. Specifically, the IMF’s technical memorandum of understanding includes a clause that prohibits the public sector from voluntarily accumulating bitcoin.
Additionally, the agreement limits the public sector to issue any debt or symbolic instruments indexed or counted in Bitcoin.
However, the El Salvador government continues to purchase 1 BTC per day, which is part of a long-term strategy to store assets. Today, it received five bitcoins, further contradicting the instruction.
Samson Mow is an influential community figure who has always been The following December protocol Between El Salvador and the IMF. Today, the IMF released more Commentclaiming that El Salvador was neither allowed to buy nor buy Bitcoin.
“If there is a loophole that continues to buy, I don’t find it in the documentation. If the plan is directly against the IMF, I don’t think it’s bad for the additional loans and it doesn’t present a serious stable image of the country,” Samson Mow wrote.
However, President Bucker rejected these claims.
“It’s all stopped in April, it’s all stopped in June, it’s all stopped in December! No, it’s not stopped. If the world excludes us and most of the “bitcoins” give us up, it won’t stop now, and it won’t stop in the future,” Bukele claim On X (formerly Twitter).
On the one hand, the country has many reasons not to surrender to the IMF. El Salvador has used Bitcoin to lead a broader social transformation, Cultivate domestic communities and Use sufficient geothermal energy create Large-scale mining business.
Abandoning these efforts will seriously undermine the country’s economic independence.
But where does this positive position leave the IMF agreement? El Salvador allegedly agreed to stop buying Bitcoin in order to obtain a $1.4 billion loan. What will happen to this money or any future trade deal? Is Buckley’s activities prohibited?
There are still many problems in the air. The IMF may add more months to El Salvador Buy BitcoinUntil then, Bucker kept his outward bullish.
However, these concerns remain unanswered and may require further regulatory clarification.
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