The statement of representatives of the IMF was published following the first assessment of the financing agreement, drawn up between the Fund and the Government of Salvador in 2023.
“As for bitcoins, we will continue to ensure that the total amount of cryptocurrency stored in all state wallets remains unchanged,” the fund said.
According to the agreement, Salvador agreed to limit the purchase and mining of the first cryptocurrency, in exchange for a financing program worth $ 1.4 billion for a period of 40 months.
Other financial institutions, including the World Bank, can also provide additional support to Salvador, as a result of which the total assistance package should amount to $ 3.5 billion.
The IMF emphasized that the participation of the state in cryptocurrency operations contains potential risks that have not yet materialized, but can aggravate the macroeconomic problems of Salvador.
At the same time, despite the formal ban on the purchase of the first cryptocurrency, Salvador continued to increase the reserve in bitcoins. In March, the president of the country Nayib Bukele (Nayib Bukele) promised that purchases of the asset would be continued.
A few days ago, he said that unrealized profit from Bitcoin reserve Salvador had already exceeded $ 357 million.
Earlier, the Salvador Congress approved the amendments to the law on the regulation of bitcoins proposed by the International Monetary Fund as a prerequisite for the country’s loan.
Source: Bits
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