Bitcoin Country El Salvador Complies with the "Accumulation Directive" from the IMF: There is a Statement! - Coin Bulletin

The International Monetary Fund (IMF) confirmed that El Salvador adhered to its commitment to stop accumulating Bitcoin and has halted Bitcoin purchases in the public sector.

IMF has added a new dimension to the long-standing debates regarding El Salvador's Bitcoin policies. In the latest report released by the IMF, it was stated that the El Salvador government has fulfilled its earlier promise to "halt Bitcoin accumulation" and that the country is no longer making Bitcoin purchases in the public sector. This situation indicates that the country has successfully met an important performance criterion set within the framework of the agreement made with the IMF.

IMF also stated that El Salvador has made significant progress in economic reforms. According to the Fund's report, the reform efforts in the country, particularly in the areas of governance, financial transparency, and structural changes, are progressing positively. These developments are critical for enhancing El Salvador's economic stability.

The IMF's statement has brought the discussions regarding the cryptocurrency policies of El Salvador, the first country to recognize Bitcoin as legal tender, back to the forefront. President Nayib Bukele's declaration of Bitcoin as official currency in 2021 created a global stir and drew reactions from many international institutions, particularly the IMF. However, the latest report is seen as evidence that the country is moderating its relationship with Bitcoin. It remains uncertain whether El Salvador will completely abandon its Bitcoin strategy in the upcoming process.