El Salvador, the International Monetary Fund (IMF) within the scope of the loan agreement, despite the commitment to reduce crypto currency purchase of the asset accumulation of assets reportedly continued to work. According to the country’s economy Minister of Economy Maria Luisa Hayem, the project of using BTC as a reserve asset continues to be supported by the government and private sector. According to the statements, this strategic step of the country is handled with other structural reforms.
Official explanations
Maria Luisa Hayem emphasized the importance of the application by stating that El Salvador continues to purchase digital money.
“Under the leadership of President Bukele, asset accumulation strategy is an important project for both the government and the private sector.” – Maria Luisa Hayem
IMF’s Opinions
Authorities, crypto money intake in the country is carried out in accordance with the performance criteria brought by the credit agreement. The application in the country is carried out within the framework of the reforms determined without being attached to the restrictions determined by the IMF.
Rodrigo Valdes, the Western hemisphere department of the IMF, has fulfilled El Salvador’s commitment to preventing crypto currency intake within the scope of total financial discipline, and the progress made during the reform process is important.
“El Salvador moves in accordance with the performance criteria and maintains crypto currency intake within the framework of the rules determined. Significant developments have been achieved with the reforms.” – Rodrigo Valdes
Although there was no significant interruption in practice, although it was promised to strengthen the country’s financial statements and reduce crypto currency in exchange for financing of $ 1.4 billion from the IMF last year. In the evaluations, said the purchases in accordance with the credit conditions said.
Authorities say that continuing to recruit crypto money is part of a strategy integrated with structural reforms, management transparency and financial discipline of the national economy. In this context, it is emphasized that existing reform activities provide significant progress in financial fields and governance.
The situation in El Salvador is seen as part of the extensive reform package evaluated by the IMF’s performance criteria. The continuation of BTC purchase in the country does not only aim to strengthen reserve assets, but also a strategic step that is closely followed by international financial circles.
In summary, El Salvador’s digital money strategy is advanced in parallel with the country’s financial reforms, while in accordance with the performance criteria set by the IMF.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
