El Salvador has rejected the recommendation by the International Monetary Fund (IMF) to drop bitcoin as legal tender. The country’s finance minister reportedly “angrily” said, “No international organization is going to make us do anything, anything at all.”
El Salvador Says No to IMF on Bitcoin
The government of El Salvador has rejected a recommendation by the International Monetary Fund (IMF) to drop bitcoin as legal tender in the country.
El Salvador’s Finance Minister Alejandro Zelaya told a local television station that bitcoin is an issue of “sovereignty.” According to the media, he “angrily” said:
“No international organization is going to make us do anything, anything at all.”
“Countries are sovereign nations and they take sovereign decisions about public policy,” the finance minister added.
According to its analysis, “In the near-term the actual costs of implementing Chivo and operationalizing the Bitcoin law exceed potential benefits,” the IMF stated in its recent report on El Salvador.
The International Monetary Fund also recommended that El Salvador’s government start charging fees for the use of its digital wallet, Chivo. In addition, the IMF wants the Salvadoran government to stop giving away $30 in bitcoin to anyone signing up to use the Chivo wallet.
Johnny Punish is a writer, global citizen eco-activist, visionary, musician, artist, entertainer, businessman, investor, life coach, and syndicated columnist.
Punish was educated at the University of Nevada Las Vegas (1980-81) and California State University Fullerton (1981-1984) with studies in accounting and business. Before the “internets” were invented, he owned and ran (5) U.S. national newspapers.
He has over 100 original songs written. He also records and produces music. A member of ASCAP, Punish has several songs placed in feature films. His music is promoted worldwide and played on all digital networks and net radio.
Read Johnny’s Full Bio at JohnnyPunish.com >>>