El Salvador’s pro-Bitcoin FM fires back at IMF’s ‘insult’
ambcrypto.comThe International Monetary Fund warned El Salvador to drop Bitcoin as legal tender. Not just once, or twice, but at least 4-5 times in the past. In fact, even the Executive directors urged El Salvador to detach Bitcoin’s status as legal tender in the country. What’s more, in a recent release, the IMF insisted that El Salvador dissolve its $150-million trust fund incorporated at the time of its policy decision.
El Salvador’s Finance Minister Alejandro Zelaya responded to recent demands from the International Monetary Fund. And, as expected, he remains undeterred from his ‘pro-BTC’ stance.
According to Zelaya, the IMF’s demands are an ‘insult’ to the nation’s sovereignty.
<p lang=«es» dir=«ltr» xml:lang=«es»>“El FMI reconoce avances de crecimiento económico, manejo de la pandemia e inclusión financiera, pero también resalta los problemas históricos del país. En 2 años no podemos traer atrás 40 años de mal manejo. Nunca habíamos crecido a un ritmo de 10.3%”, Ministro @AlejandroZelay9. pic.twitter.com/0Q3HGcMJil— Diario La Huella (@LaHuellaSV) January 31, 2022
In a interview hosted by ‘Diario La Huella’, Zelaya opined,
“No international organization is going to make us do anything, anything at all. Countries are sovereign nations and they take sovereign decisions about public policy.”
Quite contrary to the “The evaluation of Article IV” published by the IMF.
The minister went on to add,
“We have reached 4 million users. It reduced transaction costs for Salvadorans abroad and within the country.”
In addition to this, the minister claimed that El Salvador has complied with all financial transaction and money laundering rules.
El Salvador’s President Nayib Bukele has dismissed the IMF’s recommendation on Bitcoin in the past. He remains
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