el salvador and imf

[bitterguy28]

I don't think it's about them hating bitcoin, but its just a preventive measurement from a lender to lendees, to avoid getting lendees not be able to pay the loans if they got rekt on investing to a very volatile asset,

them not wanting to be associated with bitcoin does not express hatred but it does show that they do not want to be associated with either means that they do not rate bitcoin to be worth their own money and time which gets other investors worried because it might collide with trump’s plans

[Bobcrypto]

I really don't understand how the IMF can interfere in El Salvador's internal affairs and ask them to close the country's bitcoin wallet??!!! This is one of the biggest flaws of the IMF, they give loans to poor countries but impose their own conditions and interfere in the internal politics of the borrowing countries, unfortunately rich countries use the IMF to control the borrowing countries.

I understand El Salvador's need for this loan and I expect that even if they accept the conditions and close the bitcoin wallet they will most likely continue to buy bitcoin with or without this loan.

IMF has not hidden their hatred about Bitcoin, they know the potential of Bitcoin, a reason they have been critical about Elsalvado's BTC venture. IMF are against Elsalvado's decisions to make Bitcoin a legal tender two years ago, a situation that has not pleased them, hence they are demanding Elsalvado's to close Bitcoin wallets as a condition for the loan request.

One thing is certain, and that is the fact that IMF has always been looking for means to stop Bitcoin existences because the digital currency, in my opinion, is a threat to banks  existence. In as much as Bitcoin continues to attract attention, interest, adoptions, it may limit the functionality and needs of banks now and the future.

[target]

BTC is a legal tender in El Salvador, but the truth is the people over there hardly use BTC, i am sure many of them do not even understand what BTC is. The deal with the IMF is that the government will reduce their involvement in Chivo wallet and they will also make BTC acceptance voluntary for companies.

The guy who blogs about his BTC life in El Salvador says it's adopted but only selected  stores. He also said a Bitcoiner can live there with just BTC so this is making the new conflicting.

IMF sounds like trying to threatening them. From what Reddit people says IMF is going to forbid then from using USD if they are not quitting BTC legal tender. Why do El Salvador need to ask for loan?

I guess they needed a loan to sustain some projects in their country. Remember that in El Salvador, it is one of the highest crime rates in Latin America but Bukele change that by arresting gang members and putting them into prison.

But in order to do that, he needs to built bigger prisons and so I guess that's one project that he will be looking to do with that billion loans. I do not think that they will stop with their Bitcoin investment as reserved despite the threat of IMF.

A dictator can do anything like taking all the money of the people and spend them all for the prison building. I thought this Bukele is a dictator who can just command his army to just kill them all and bury those gangmen to the ground like mass grave. Not a very Christian way but this will need no build a prison building.

He isn't as a dictator they think he is if this is what Bukele does. But I guess IMF had his ass.

[Stompix]

I told you a hundred times to not trust a politician, remember how Buekele lied to every single one of us and people were cheering on his lies?

https://www.cryptotimes.io/2024/09/16/prez-bukele-says-el-salvador-no-longer-dependent-on-debt/

Just a few months ago:

With the elimination of external debt reliance and continued support for Bitcoin, El Salvador is on a bold path toward greater economic freedom. The country’s leadership is focused on reducing dependency on outside financing while shaping a future that embraces new technology.

As usual, he lied to all of us but does he care? Of course not!

[yhiaali3]

One thing is certain, and that is the fact that IMF has always been looking for means to stop Bitcoin existences because the digital currency, in my opinion, is a threat to banks  existence. In as much as Bitcoin continues to attract attention, interest, adoptions, it may limit the functionality and needs of banks now and the future.

This is certain, the IMF hates Bitcoin because it completely disrupts its function, and it is particularly opposed to central banks, so it is certain that all banks hate Bitcoin and are trying to stop it.

I know this, but what I hate about the IMF is its unacceptable interference in the affairs of borrowing countries and imposing its own conditions, borrowing countries know this but they are forced to borrow due to their difficult economic circumstances, so they are forced to accept these conditions.

[Z-tight]

As usual, he lied to all of us but does he care? Of course not!

I think i missed when this news came out months ago, if they have eliminated the need for external debt, why are they borrowing from the imf now, that is the question people should be asking.

I like the fact that BTC is a legal tender in El Salvador, but the truth is that it is a very poor country and they are a long way from eliminating external debt, another thing is that BTC is not widely used yet over there, the adoption has been poor, hopefully that improves in the future.

[Stompix]

As usual, he lied to all of us but does he care? Of course not!

I think i missed when this news came out months ago, if they have eliminated the need for external debt, why are they borrowing from the imf now, that is the question people should be asking.

Because people don't care anymore if it is a lie or not! Is it good for the price? Then let the lies flow!
Remember the volcano mining? Bitcoin city? Booming exchanges and bitcoin business that were supposed to happen?
The 200MW well for mining?

He lies every single time because he has nothing to lose, the crypt mob will believe the sun is spinning around the earth if that adds another 1k to the Bitcoin price.

[trendcoin]

The IMF lends countries a few billion dollars and imposes its colonial laws on them. It is a legal usury organization. The president of El Salvador, Nayib Bukele, was threatened by the IMF when he made Bitcoin initiatives. As of today, we see that he made a very correct decision with Bitcoin expansions and investments. I hope he will end his relations with the IMF immediately...

[bayu7adi]

OMG... does El Salvador just want to wait for this bullish moment to seek temporary profit??? If Bukele really wants to close the Chivo wallet, it will be a big question... has he learned a terrible lesson during these 3 years? Or did he deliberately adopt Bitcoin officially in 2021 only to sell it in the next halving cycle?

WTH... indeed in terms of risk considerations, Bitcoin is quite risky for a country, but they have already made a profit, right? Doesn't this mean they have to develop even more by using the money they have managed to get?

[Stompix]

I hope he will end his relations with the IMF immediately...

And you actually believe that sorry PoS liar?
He never turned down the IMF, while bragging on twitter and feeding the ego of crypto owners he has always dealt with the IMF in the background, newsflash, he needs money! Behind the bravado on twitter, El Salvador is in debt, they have the lowest economic growth in all of central America, the money is not coming in he country like before and his plans are just vaporware.

But keep believing that Bukele is different, he's just a politician and they come with a full supply of lies.

[Bobcrypto]

BTC is a legal tender in El Salvador, but the truth is the people over there hardly use BTC, i am sure many of them do not even understand what BTC is. The deal with the IMF is that the government will reduce their involvement in Chivo wallet and they will also make BTC acceptance voluntary for companies.

IMF never like cryptocurrency from the inset, its clear from the pre loan conditions on the Elsalvado's loan applications. I don't think is a question of whether the people of ElSalvador's are using Bitcoin for their daily business or no, the condition for the loan should not be linked with the chivo wallet because loan request or applications is a separate business from any crypto wallets in my opinion.

in addition, IMF has not hidden their hatred for cryptocurrency, i have thought that IMF, banks are scared of the the growing awareness and adoptions of Bitcoin which they might have considered as a competitor that can overtake the banking sector in near future.

[trendcoin]

I hope he will end his relations with the IMF immediately...

And you actually believe that sorry PoS liar?
He never turned down the IMF, while bragging on twitter and feeding the ego of crypto owners he has always dealt with the IMF in the background, newsflash, he needs money! Behind the bravado on twitter, El Salvador is in debt, they have the lowest economic growth in all of central America, the money is not coming in he country like before and his plans are just vaporware.

But keep believing that Bukele is different, he's just a politician and they come with a full supply of lies.

I don't trust politicians, but I accept as a natural fact that politicians act in the interests of their country and if necessary borrow money from the IMF to do so. As for Nayib Bukele, he has cleared his country of all kinds of terrorists. For that alone, I would bet with anyone that he will win several more elections in a row...

Even if we look for the right person one hundred percent, we will not find him. For that, we need direct democracy. Representative democracies do not satisfy me either, but since I am not looking for the right person, I consider reasonable options as reasonable options...

[bitterguy28]

I don't trust politicians, but I accept as a natural fact that politicians act in the interests of their country and if necessary borrow money from the IMF to do so. As for Nayib Bukele, he has cleared his country of all kinds of terrorists.

nayib bukele acts in the best interest of his people for his country he is using bitcoin for the benefit of their country not the other way around he is not the president of the bitcoin community and he will not put bitcoin first if it meant his country will suffer and that is just the truth we might expect him to completely follow decentralization but as long as it is not the best for the country he will not follow it

Even if we look for the right person one hundred percent, we will not find him. For that, we need direct democracy. Representative democracies do not satisfy me either, but since I am not looking for the right person, I consider reasonable options as reasonable options...

no one is perfect and most especially politicians the best we can ask for is someone who would put the citizens' welfare before his own