Topic: (Bitcoin Acceptance Controversy) Will El Salvador 🇸🇻 Get IMF Bailout (Read 131 times)
February 11, 2022, 11:05:10 AM
Can they honestly accept them to let go of the one project that could change things around? They are an independent country allowed to make their own decisions are they not,? I do think that it would be a bit of a shock to see them complying with the terms and conditions, they have to understand that the pandemic is the root cause and there is nothing to do with Bitcoins and making them legal tender, I don't see people going after big countries like the US, targeting small countries and trying to manipulate them might not be the way to ask for leaving Bitcoins alone. Let's see what happens.
February 11, 2022, 10:45:31 AM
In September 2022 the El Salvador President announced the acceptance of bitcoin as a legal currency in the Latin American high dept profile country
We are not yet in September 2022, typo.What are your views on the worsening debt profile of El Salvador how will Bitcoin which is the major object of set back for IMF intervention in form of bailout fund the country y economic tools to overcome the country's long-term debt condition.
Check El Salvador debt since 2012 to 2020, it significantly increasing more and more when Bitcoin was yet never made legal tender in the country. IMF and other organizations that against it like how El Salvador gas been in debt. I now call them international fiat fund because it is fiat they are supporting, not money. If you want to post anything related to El Salvador, there has been an active thread about it that we are discussing it
El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻
February 11, 2022, 10:39:36 AM
In September 2022 the El Salvador President announced the acceptance of bitcoin as a legal currency in the Latin American high dept profile country...
Is your keyboard faster than your mind, or is it something else? Bitcoin became a legal tender in that country on September 7, 2021, and the law was passed 3 months earlier.
What are your views on the worsening debt profile of El Salvador how will Bitcoin which is the major object of set back for IMF intervention in form of bailout fund the country y economic tools to overcome the country's long-term debt condition.
As for El Salvador's debt being somewhat correlated with Bitcoin, it has absolutely nothing to do with it - Bitcoin is just a legal alternative to the USD, and for several months it can't change anything for the better or worse.
Please use the forum search and do not open topics that have already been discussed in several threads.
Is El Salvador in debt because of the bitcoin price drop?
IMF urges El Salvador to remove Bitcoin as legal tender
El Salvador to revoke Bitcoin as legal tender?
February 11, 2022, 10:37:13 AM
In September 2022 the El Salvador President announced the acceptance of bitcoin as a legal currency in the Latin American high dept profile country
We are not yet in September 2022, typo, it is 2021.What are your views on the worsening debt profile of El Salvador how will Bitcoin which is the major object of set back for IMF intervention in form of bailout fund the country y economic tools to overcome the country's long-term debt condition.
Check El Salvador debt since 2012 to 2020, it significantly increasing more and more when Bitcoin was yet never made legal tender in the country. IMF and other organizations that against it like how El Salvador has been in debt. I now call them international fiat fund because it is fiat they are supporting not money. If you want to post anything related to El Salvador, there has been an active thread that we are discussing it
El Salvador has become the first country to make #Bitcoin legal tender!
February 11, 2022, 10:18:16 AM
In September 2021 the El Salvador President announced the acceptance of bitcoin as a legal currency in the Latin American high dept profile country, El Salvador the move came with a lot of controversies from both the citizens and other global Alliance and institutions e.g the International monetary fund (IMF) which is one of El Salvador benefactors in terms of credits and loans. At that time the El Salvador debt repayment default was around $400 (CDS) but this amount almost tripled in January 2022 to $1,100.
which is as a result of none performance on balance of loan of $1 billion and lack of negotiation between the government of El Salvador and the (IMF) which relationship have gone overboard after El Salvador refusal to take the IMF advice against Bitcoin adoption.
With current El Salvador Bitcoin position/holding Bitcoin seem to be the only way out for El Salvador to reclaim it already worsening credit default swap (CDS).
What are your views on the worsening debt profile of El Salvador how will Bitcoin which is the major object of set back for IMF intervention in form of bailout fund the country y economic tools to overcome the country's long-term debt condition.
Below is five years dept chart of El Salvador
Source:
https://www.coindesk.com/markets/2022/01/20/the-3-reasons-behind-bitcon-holder-el-salvadors-deteriorating-creditworthyness/?outputType=amp
which is as a result of none performance on balance of loan of $1 billion and lack of negotiation between the government of El Salvador and the (IMF) which relationship have gone overboard after El Salvador refusal to take the IMF advice against Bitcoin adoption.
With current El Salvador Bitcoin position/holding Bitcoin seem to be the only way out for El Salvador to reclaim it already worsening credit default swap (CDS).
What are your views on the worsening debt profile of El Salvador how will Bitcoin which is the major object of set back for IMF intervention in form of bailout fund the country y economic tools to overcome the country's long-term debt condition.
Below is five years dept chart of El Salvador
Source:
https://www.coindesk.com/markets/2022/01/20/the-3-reasons-behind-bitcon-holder-el-salvadors-deteriorating-creditworthyness/?outputType=amp
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