The International Monetary Fund (IMF) said on Tuesday that the total amount of bitcoin to ensure that “efforts will continue”
Al Salvador does not change by the government.
Back in March, Al Salvador arrived at an agreement to get a $ 3.5 billion loan package with IMF. Some of the conditions of that deal belong to bitcoin: for example, Cryptocurrency officially lost its position as a legal tender, meaning that traders no longer need to accept currency on a compulsory basis.
According to the IMF, one of the terms of the package was prohibited from “voluntary accumulation of bitcoin by the public sector”. In theory, this should mean that if it wants to comply with the loan program, the government of the bouquet will not be allowed to keep bitcoin deposits.
Nevertheless, Al Salvador continued to buy more bitcoins in clear contradiction with the terms of the deal. On March 4, when the terms of the deal were found, the government of Salvadoron organized 6,101.15 bitcoin in its official wallet. As a writing, this number has increased to 6,189.18 bitcoin, which costs around $ 678 million.
“No, it’s not stopping,” Salvadoran’s President Naib called Posted On 4 March at X. “If this does not stop when the world made us unstable and most of the ‘bitcoiners’ left us, it would not stop now, and it will not stop in the future.”
The IMF did not accept any contradiction or friction in its note. In fact, it was said that the program’s performance was strong and the major fiscal and reserved goals were met.
The report said, “IMF employees thank Salvadoran officials for excellent cooperation and creative discussion.”
