🌐 IMF and El Salvador Close to Agreement on Bitcoin!

🔍 Key Points:

- IMF-Supported Program

✔️ Ongoing negotiations between the IMF and El Salvador to mitigate risks associated with Bitcoin as legal tender.

✔️ Focus on strengthening public finances, financial stability, and transparency.

- Focus Areas in Negotiations

🔸 Public Finances: Target to increase the primary balance by 3.5% of GDP over three years.

🔸 Bank Reserves: Strengthening to ensure financial system stability.

🔸 Governance & Transparency: Enhanced focus, particularly regarding Bitcoin usage.

- IMF’s Stance on Bitcoin

🚨 Potential risks of Bitcoin as legal tender are acknowledged but haven’t materialized yet.

🔍 The IMF stresses improving transparency and mitigating potential risks.

- El Salvador’s Commitment to Bitcoin

🇸🇻 Since adopting Bitcoin in 2021, El Salvador has accumulated 5,834 BTC (~$323 million).

🛒 12% of Salvadorans reportedly use Bitcoin for daily purchases in 2023.

🌆 The "Bitcoin City" project continues to symbolize El Salvador's dedication to crypto.

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