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El Salvador’s President Bukele Chooses Bitcoin Over IMF Deal

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El Salvador’s President Bukele Chooses Bitcoin Over IMF Deal

El Salvador’s vice president-elect, Félix Ulloa, has made it clear that the country’s government would choose to continue with bitcoin as legal tender, even if it meant forgoing a financial agreement with the International Monetary Fund (IMF). This announcement comes as negotiations between El Salvador and the IMF continue, with the organization urging the country to review its strategy with bitcoin. Despite the warnings from the IMF about the risks associated with cryptocurrency, including potential financial instability, El Salvador remains committed to maintaining bitcoin as legal tender. The government has also faced criticism for lack of transparency in its management of State money, particularly in relation to the purchase of bitcoins. With the latest response from the vice president-elect, it is clear that the government is willing to prioritize its bitcoiner project over reaching an agreement with the IMF.

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