The International Monetary Fund estimates that Argentina will be the fourth fastest-growing economy within the G20 in 2026, ranking behind India, Indonesia, and China.

According to the international organization’s projections regarding the global economy, its growth would reach 3.1 % in 2026.

The IMF forecasts GDP expansion in 2026 and notes that “India would once again become the fastest-growing economy, consolidating its position as one of the main drivers of global activity.” The Asian nation tops the ranking with a projected annual real GDP growth rate of 6.2 %.

Below India are Indonesia (4.9 %) and China (4.2 %), which are expected to remain among the main contributors to global growth.

Argentina, in Latin America, ranks fourth, with a projected economic growth rate of 4 %, in line with Saudi Arabia.

The IMF emphasizes that emerging economies associated with the G20, such as Argentina, Saudi Arabia, and Turkey (3.7 %), are projected to grow faster than the global average.

M.Pino

Source: infobae

(Reference image source: Benjamin R. on Unsplash)

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La entrada IMF forecasts economic growth for Argentina within the G20 apareció primero en Bitfinance.

Last week, the Bitcoin Indonesia group held a meeting with the country’s vice-presidential office to discuss the proposal for a Bitcoin reserve to help strengthen the economy.

The strategic reserve in the market’s leading cryptocurrency is a bold idea, complemented by opportunities in mining and financial education that will drive adoption of the digital asset.

Abundant hydroelectric resources favor Bitcoin mining

During the meeting, various advantages the Asian country has in the context of cryptocurrencies were highlighted, such as its “abundant hydroelectric and geothermal resources that could be used to power Bitcoin mining operations.”

On the other hand, the Bitcoin Indonesia group presented government officials with “long-term price projections, such as the one by Michael Saylor, who predicts that Bitcoin could reach $13 million by 2045 in a base case scenario, and up to $49 million in a bull case.”

Such a decision must be carefully considered, considering that Indonesia is the world’s 16th largest economy, with a GDP of around $1.4 trillion and a population of over 280 million. A Bitcoin reserve “could serve as a diversification tool in an increasingly uncertain global macroeconomic environment.”

Regulatory contradictions

However, it is worth remembering that the country maintains a restrictive stance regarding cryptocurrency payments. Specifically, it has banned its use as a means of payment since 2017, “and recently the Ministry of Finance has doubled the tax burden on traders and miners.” In addition, the Income Tax on cryptocurrency sales on local exchanges increased from 0.1 % to 0.21 %, and the fee for foreign exchanges increased from 0.2 % to 1 %. Mining companies, meanwhile, face a VAT that increased from 1.1 % to 2.2 %.

M.Pino

Source: coinwatcher.com

(Main reference image source: Jannis Lucas en Unsplash)

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La entrada Indonesian government considers creating a national Bitcoin reserve apareció primero en Bitfinance.

The financial services company, Mastercard, established an alliance with the Indonesian cryptocurrency portal Fasset in order to develop digital solutions that facilitate financial inclusion in the Asian country.

The manager of Mastercard Indonesia, Navin Jain, stressed that the alliance plans to “expand financial inclusion”, extend opportunities for the development of the economy in the country and support citizens in access to digital technologies.

For his part, the executive of Fasset, Hendra Suryakusuma, maintained that the alliance with Mastercard will allow closing the gap between the financial system and the citizens of Indonesia, since there are currently 92 million inhabitants who do not have any type of financial services. It is an unbanked population.

“Our partnership seeks to reduce barriers to digital finance and drive greater opportunities to benefit from the use of emerging financial services,” Suryakusuma noted.

Impact on the global crypto world

According to the Fasset executive, the adoption of cryptocurrencies by Indonesia will have a very positive impact on the global crypto ecosystem, and he considers that they will be a reference model for other countries that wish to develop their economies.

For Suryakusuma, “the implications in the industry are a greater legitimation of crypto assets, their use cases and application areas.”

While the Mastercard company has been developing and executing actions to link with the cryptocurrency market. Last June, the company extended its network for non-fungible token (NFT) markets, allowing its customers to purchase with their NFT cards without having to buy crypto beforehand.

M. Rodríguez

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Source: es.cointegrahp.com

La entrada Mastercard launches alliance with Indonesian cryptocurrency portal apareció primero en Bitfinance.

Germany’s second private commercial bank, Commerzbank, plans to close its branches in Barcelona (Spain) and Venezuela, and also sell its subsidiaries in Brazil and Hungary.

The measure is due to the results released by the entity in 2020 when a net attributable loss of almost 2,900 million euros was recorded. At that time they announced they wanted to close branches and representative offices outside of Germany and withdraw from fifteen international locations.

So far it is known that the company’s future plans will be set to expand its offices in Dubai as well as other countries such as Azerbaijan, Georgia, Indonesia, Iraq, Kazakhstan, Lebanon, Malaysia and Serbia, where it plans to have progressive advances.

The information was provided by the directors Roland Boehm and Nikolaus Giesbert, who from the bank’s intranet announced that the subsidiaries in Luxembourg, Brussels, Bratislava and Hong Kong will also be closed.

Commerzbank plans to be present in 40 countries around the world and will concentrate its activities in Singapore.

K.Villarroel

Source: diariolibre

La entrada Commerzbank will close subsidiaries in Venezuela and Barcelona apareció primero en Bitfinance.

Facebook will control the prominence of political content on its eponymous social network and this week will carry out a test to reduce this type of publications among a limited number of users in Canada, Brazil and Indonesia, and later in the United States. 

The measures of the social network, which were already advanced by Mark Zuckerberg at the end of January in the presentation of the latest economic results of Facebook, aim to “better understand the different preferences of people for political content and test various measures based in these data“, as the US company announced in a statement.

As a first step, Facebook will conduct a test to “temporarily reduce the distribution of political content in the news feed.” This measure will take place this week among a limited number of users from Canada, Brazil and Indonesia, and in the coming weeks it will also take place in the United States.

In the initial phases, Facebook will explore various ways to rank political content in its feed using signals, and will use these tests to decide the strategy to launch in the future, by surveying participating users. 

Facebook has stressed that political publications will not be removed in any case, but will only try to reduce their dissemination, since users have stated that “they do not want political content to take over their news feed,” according to the company. According to Facebook analysis, 6 % of Facebook posts are considered political content in the United States.

Source: dpa

La entrada Facebook will reduce political content in its post feed  apareció primero en Bitfinance.