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IMF asks El Salvador to reconsider bitcoin blond

IMF asks El Salvador to reconsider bitcoin blond

February 14, 2023
US-based fund says "risks have not materialized" but warns of speculation and fragility in crypto markets

Corporate & Sovereign Strategy International Financial Institutions International Monetary Fund (IMF) Economy & Policy Bonds Debt Fixed Income Funds Capital Markets Regulation El Salvador Central America United States

The International Monetary Fund (IMF) asked El Salvador to reconsider the planned sale of bitcoin-denominated bonds, "given the legal risks, fiscal fragility and largely speculative nature of crypto markets." El Salvador became the first country in the world to adopt bitcoin as legal tender in September 2021 and announced plans in November the same year to sell $1 billion worth of bonds in the cryptocurrency. The country has not yet issued bonds in bitcoin, but it paid $800 million in January th

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