El Salvador's foreign exchange reserves and the IMF.
First of all I want to send a big greeting to all the friends of steemit and especially to the members of this prestigious and wonderful #ProjectHope, today I come to share with all of you this publication related to the achievements in financial matters of the country of El Salvador through the use of cryptocurrencies and the controversy with the International Monetary Fund to reach an agreement to pay loans to this country.
Since the ruler of the Central American country of El Salvador began to talk about cryptocurrencies and especially Bitcoin, he began to be harshly criticized by opponents and detractors of cryptocurrencies worldwide.
However, for the Salvadoran president everything has been rosy as we say colloquially, since he was able to benefit from many price movements and capitalized his resources with his investment policy and also managed to make cryptocurrencies legal for use in his country, i.e. as payment and purchase mechanisms, which resulted in a way to combat inflation and give them a better purchasing power to its people.
Today, after an economic crisis and assuming a country full of a supremely high level of crime, he managed to fight and purge the mafias that exist in his country and is reaping the fruits of the right decisions taken to undertake the path of digital assets, since the amount of Bitcoin he owns doubles what must be repaid to the International Monetary Fund for a loan granted in 2020 and that must be honored in this year of halving 2024. Where the president Nayib Bukele is proposing an agreement to cancel in cryptocurrencies and the organization has stated that it must eliminate the legal use of cryptos to reach a satisfactory agreement..
t should be noted that this action of the country of El Salvador has not been well seen by the global capitalist financial empire that see how little by little the power that they could exercise in some countries of the world are leaving their hands and therefore cryptocurrencies have served to have a new financial tool for financing to get ahead and not to be borrowing from these institutions..
Your information and analysis in this regard is very important. It is vital to discuss a subject enriched by your knowledge about the successes achieved in El Salvador's financial matters.
greetings dear @danish578, I have followed very closely the movements of Salvador and believe that they have been effective on the part of its president, I hope they can be replicated in other nations for the welfare of their people.
thank you very much for your comments
Thank you, friend!
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El Salvador's move to focus on BITCOIN was a winner and now it pays off. This also made this nation more popular
greetings dear @stefano.massari this president took the decisions at the right time and space, until today time is giving him the reason for the happiness of his people and to leave a precedent for the world.
thank you very much for your comments