El Salvador’s President Rejects IMF Bitcoin Terms
- President Nayib Bukele of El Salvador rejected the IMF’s conditions for a $1.4 billion loan.
- The IMF requires El Salvador to halt government Bitcoin purchases and liquidate the Fidebitcoin trust by July 2025.
- El Salvador must also end its involvement in the Chivo wallet system and disclose all government Bitcoin wallet addresses.
- Bukele announced an addition of 1 BTC to national reserves, totaling 6,101 BTC ($510 million).
- The IMF previously urged discontinuation of Bitcoin as legal tender due to financial stability concerns.
El Salvador’s President Bukele has dismissed the IMF’s loan conditions, insisting on continuing the country’s Bitcoin strategy despite international pressure and past credit downgrades.
Source (2.6)https://decrypt.co/308696/bukele-dismisses-imf-terms-vows-el-salvadors-bitcoin-strategy-wont-stop?rand=52368
