Market news - El Salvador continues to buy Bitcoin despite the IMF loan conditions.
- President Bukele remains attached to crypto growth.
- The government balances the adoption of Bitcoin with global financial expectations.
El Salvador doubles its Bitcoin strategy, even after having signed a loan agreement of $ 1.4 billion with the International Monetary Fund (IMF) which recommended reducing its cryptographic ambitions.
During an interview at the top of the web in Rio de Janeiro, the Minister of the Economy Maria Luisa Hayem confirmed that the government continued to accumulate bitcoin. She stressed that President Nayib Bukele remains determined to make bitcoin a central pillar of the country's economic vision.
“There is a commitment from President Bukele to continue to accumulate assets,” said Hayem.
Despite the IMF's recommendations for budget deduction and the reduction of the accent on Bitcoin, the official Bitcoin office of El Salvador continues to share updates on new Bitcoin purchases via social media.
Tension between innovation and global finance
El Salvador introduced more flexibility in his Bitcoin lawAs part of the IMF loan agreement, allowing companies to choose to accept or not Bitcoin. This was considered an effort to find a balance between innovation and the concerns of investors.
In 2021, El Salvador made the headlines as the first nation in the world to make the legal tender of Bitcoin. Although Crypto lovers have welcomed development, financial institutions and traditional credit agencies have been shocked, which caused demarcations and credit warnings to institutions such as the IMF.
However, Hayem stressed that the government was led by the government and private Crypto initiatives Progress, reporting that the digital asset strategy is far from a break.
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