El Salvador Defies IMF Again With Fresh Bitcoin Purchase Following Loan Review
The IMF urged a halt to crypto accumulation as part of $1.4 billion program. El Salvador responded by buying more.
El Salvador added eight more Bitcoin to its reserve despite IMF warnings
An IMF agreement struck on Tuesday included provisions to curb crypto holdings
It also wants El Salvador to wind down its involvement in a state-run crypto wallet
El Salvador purchased eight additional bitcoins on Tuesday despite the International Monetary Fund (IMF) reiterating its push for the country to freeze government crypto acquisitions under the terms of a $1.4 billion loan deal.
Imagine El Salvador taking that lot of $1.4 billion in crypto, and any small gives means $100s to a million dollars easy cash for them!!
You know what, El Salvador have tested profits(success ) from their crypto holdings and I don't think they will give up this new found love easily... whatever IMF is communicating is falling on deaf ears.
Btw, not to turn this into a Political debate but is there any country that has developed with IMF help ?