President of the Central Bank of El Salvador: The adoption of Bitcoin will not adversely affect the IMF’s approval of US$1.3 billion in loans

President of the Central Bank of El Salvador: The adoption of Bitcoin will not adversely affect the IMF’s approval of US$1.3 billion in loans

2021/10/25

According to reports, 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 of the potential problems that this transaction may cause: "We don't think there are any risks.The close relationship between our country and 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. "Earlier, the country’s President Bukele claimed that more than one-third of citizens have begun to use Bitcoin as a currency.It is reported that this agreement with the International Monetary Fund is very important for this debt-ridden country, because El Salvador will open the door to the international market in 2022.Before the International Monetary Fund announces its assessment of El Salvador’s fiscal situation next month, the discussions are in a delicate balance.

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