El Salvador is Buying Bitcoin Despite IMF Compliance: How?
El Salvador has added 32 Bitcoins recently, increasing its total holdings to 6,161.18 BTC, valued at approximately $584 million. While the government has paused Bitcoin acquisitions in the public sector to comply with International Monetary Fund (IMF) restrictions, its Bitcoin Office continues to buy small amounts of Bitcoin daily without breaching loan agreements. IMF Director Rodrigo Valdes confirmed that El Salvador remains compliant, as the Office operates outside the fiscal sector's defined boundaries. President Nayib Bukele remains committed to Bitcoin despite IMF pressure, tweeting affirmations of this strategy. Legislative changes have rolled back Bitcoin's mandatory acceptance while still permitting it as an optional currency. These adjustments enable El Salvador to satisfy international lenders while aiming to stabilize its economy and encourage private investment, ultimately addressing a debt that reached 85% of GDP last year.
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