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- 📢 Exclusive on Gate Square — #PROVE Creative Contest# is Now Live!
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New Statements from the IMF Regarding El Salvador and Bitcoin! Will BTC Purchases Stop This Time?
El Salvador, which accepted Bitcoin as legal tender and signed a principle, made a loan agreement with the International Monetary Fund (IMF) in the past months.
The IMF wanted to impose a series of restrictions on El Salvador in exchange for the loan, such as reducing BTC purchases. However, during this process, El Salvador continued to buy Bitcoin despite the IMF's pressure for restrictions.
While El Salvador continues its BTC purchases, a new statement has come from the IMF.
The IMF announced that the first review of the 1.4 billion dollar loan agreement has been completed and that an agreement has been reached for an initial payment of 120 million dollars to the country.
The IMF stated that as part of the agreement on May 27, El Salvador would need to fulfill its previous commitments to limit government intervention in Bitcoin.
The IMF also stated that it will work to ensure that the amount of Bitcoin held by the El Salvador government does not change.
This stance contradicts President Nayib Bukele's statements regarding the country's efforts to increase Bitcoin assets.
The IMF reiterated its stance that El Salvador should stop accumulating Bitcoin and should not engage in other activities related to Bitcoin.
Bitcoin Purchases Continue Despite IMF!
Shortly after the IMF's announcement on May 27, El Salvador announced once again that it had purchased Bitcoin.
The El Salvador Bitcoin Office reported that the country has once again purchased more Bitcoin from account X.
Data shows that the country has accumulated 30 BTC in the last 30 days, while El Salvador's Bitcoin reserve currently stands at 6,190.18 BTC.