According to news on October 23, El Salvador is seeking a loan worth US$1.3 billion from the International Monetary Fund (IMF). Douglas Rodriguez, governor of El Salvador’s central bank, believes that the country’s adoption of Bitcoin will “add points” to the country’s negotiations with the IMF.
Rodriguez said when talking about the potential problems that this transaction may cause: “We don’t think there are any risks. Our close relationship with Bitcoin will bring countless benefits to all parties, including increased financial inclusion.
We publicly explained to the IMF: For us, Chivo and Bitcoin are just a payment method. “Previously, President Bukele of the country claimed that more than one-third of citizens have begun to use Bitcoin as currency. It is reported that this agreement with the International Monetary Fund is very important for this debt-ridden country, because El Salvador will be in 2022. Open the door to the international market. The discussions are in a delicate balance before the International Monetary Fund releases its assessment of El Salvador’s fiscal situation next month.