The International Monetary Fund (IMF) announced that it will hold a meeting with the authorities of El Salvador to discuss the new economic policy, which would accept  bitcoin as legal tender.

According to the IMF spokesman, Gerry Rice, this decision could pose legal and financial problems for the Salvadoran region.

“The adoption of Bitcoin as legal tender raises a number of macroeconomic, financial and legal issues that require very careful analysis,” the spokesperson said.

It is not the first time that the authorities of the international fund show their concerns about the initiatives of several countries to adopt digital currencies for legal tender.

In March this year, the IMF issued a similar warning against the Marshall Islands recognition of its digital sovereign currency, called SOV, as legal tender, as it may pose similar legal and financial risks.

The president of El Salvador had announced during the Bitcoin 2021 Conference in a pre-recorded message, that in the next few days a bill will be introduced that proposes using cryptocurrency as legal use in the country. This law was later approved by the majority of the Legislative Assembly.

K. Tovar

Source: Cointelegraph

La entrada IMF will meet with authorities of El Salvador apareció primero en Bitfinance.

The spokesman for the International Monetary Fund (IMF), Gerry Rice, said that the Washington-based institution will do everything possible to reach a debt agreement with Argentina before May, as suggested by Argentine Economy Minister, Martín Guzmán.

“We do not have a tentative deadline. Minister Guzman reiterated the authorities’ desire to reach a conclusion by May and we will do everything possible to meet the deadline suggested by the minister,” Rice said.

The intention of the Argentine government is to close the refinancing agreement of 45,000 million dollars of debt with the IMF before May, in order to be able to face the negotiations with the Paris Club for the payment of 2,400 million dollars.

In this line, the spokesperson explained that the conversations between both actors will take place virtually in the coming weeks due to the epidemiological situation. Rice has slipped the possibility that the Argentine authorities make a face-to-face visit to Washington, although he has not confirmed a date.

K. Tovar

Source: dpa

La entrada Argentina and the IMF want an agreement before May apareció primero en Bitfinance.