The International Monetary Fund mentioned that it is providing technical assistance to the government of El Salvador in various ways. According to Jerry Rice, a spokesman for the organization, they are meeting with people in the Salvadoran government on issues related to taxes and money laundering, including key issues raised by the IMF in an earlier report.
International Monetary Fund in talks with El Salvador
The International Monetary Fund does not agree with El Salvador’s move last year to declare bitcoin as legal tender, but it is in regular talks with representatives of the Salvadoran government. At a press conference last week, Gerry Rice, a spokesman for the agency,said that he has been in contact with the governmenton several issues related to the introduction of bitcoin in the country.
IMF staff and Salvadoran authorities continue regular dialogue on key issues highlighted by the Board in January of this year.
Despite the Fund’s warning that the decision by approving the Bitcoin law in the country may pose a stability risk to the nation, El Salvador maintained its policy and President Nayib Bukele invested public funds to purchase over 2300BTC BTC. and maintained Bitcoin as legal tender.
Rice also identified the purpose of ongoing talks and mentioned providing technical help to governments on taxes, money laundering, and bitcoin adoption statistics. Rice stated that this.
Consultations are ongoing, including the authorities’ progress in collecting statistics and other information on the use of bitcoin related to the adoption of bitcoin as legal tender in El Salvador. As such, we will provide technical assistance on this topic.
However, the spokesperson did not specifically state how they are providing assistance in quantifying the use of bitcoin and crypto in the country.
El Salvador’s credit score has suffered greatly due to a lack of transparency due to bitcoin investments made by several agencies like Moody’s, Bukele. Jaime Reuschem, a senior vice president at the agency,said this happenedbecause there is a lack of information on the matter and only Bukele’s tweets to explain these purchases.
According to local media, talks between the country and the International Monetary Fund could contribute to the signing of a $1.3 billion deal to put its finances in order, and the organization has been working with El Salvador to fight money laundering, fiscal transparency, accountability in the use of public funds, anti-corruption They are seeking to strengthen policies on several themes, including strengthening the framework.
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