INTERNATIONAL MONETARY FUND UPDATE ON EL SALVADOR AND BITCOIN
🔸 The International Monetary Fund (IMF) confirms that discussions regarding Bitcoin with El Salvador are ongoing.
🔸 El Salvador's economy is growing better than expected thanks to improved confidence, high remittances, and strong investment.
🔸 GDP this year is projected at around 4%, with a positive outlook for next year.
🔸 The government continues to control the budget and reduce the deficit.
🔸 The IMF emphasizes the need for transparent Bitcoin management, protection of public funds, and risk reduction.
THE IMF'S CHANGE IN PERSPECTIVE ON BITCOIN
🔸 In 2021, the IMF warned that Bitcoin posed a significant risk when used as legal tender in El Salvador.
🔸 More recently, the IMF has acknowledged that Bitcoin is being used as a necessary financial tool in countries with high inflation or tight capital controls.
🔸 While the IMF does not endorse Bitcoin, it recognizes that the digital asset is growing rapidly and cannot be ignored.
🔸 From 2025, the IMF will classify Bitcoin as an asset similar to gold in national statistics, not legal tender.
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