Truth is IMF is a tool used by the US government to distablized different governments or countries economy whether we agree or not it's the fact and nothing more, if only EL Salvador never had a deal with IMF with would have been better with bitcoin as a legal tender. As long as they have a deal with IMF they will always find a way to interrupt the progress of the country it's not the first they have done. BTW, of we look at Pakistan the IMF wanted to ruin their bitcoin strategic reserve plan but they did ignore the IMF.
However, bitcoin as a side by side currency is not defeated in the EL Salvador but they could manage their wealth and decide regardless of the IMF opinion and they will be fine, I still consider them the great country with bitcoin in heart.!
We can’t blame the IMF when El Salvador has failed to adopt Bitcoin as a currency. Because they have adopted bitcoin as legal currency since 2021 and according to many reports in 2023 and 2024, people there do not like to use bitcoin instead of USD in daily transactions. People still like fiat money because of their habits, bitcoin price fluctuates...this failure has nothing to do with the IMF.
Don't just blame others for your failures when you don't plan well enough.
Another thing is that El Salvador sought help from the IMF after bitcoin adoption failed because it did not improve their economy as expected.
We can’t blame the IMF but El Salvador or El Savadorians also didn’t fail at anything.
The government prepared the most optimal environment for bitcoin and people still didn’t want to use bitcoin. That can only have one explanation.
Btc is not ready for that kind of usage.
USD is centralized and always a loser in the long term but it has something which btc lacks, it is practical.
It is as simple as that. No need to blame anyone just because btc didn’t work in El Salvador. You may say people were not ready for it, btc wasn’t designed to be used in daily purchases etc but the result is the same. People wanted to use usd more.
Had The US (or any other country for that matter) tried the same thing, the results wouldn’t have been much better.
El Salvador did nothing wrong.