Haters just gotta be careful – Since El Salvador did Bitcoin (BTC) is a fiat currencyall international bodies, such as the IMFdon’t bring it no more help. However, the small Central American country has just reimbursementwithout any apparent problem, all files 800 million dollars of bonds he owed with interest.
Bitcoin has clearly not “killed” El Salvador, which pays off its obligations well
When El Salvador decided that Bitcoin would be his national currency, the bond markets played against the debt of this Central American nation. the International Monetary Fund (IMF) had therefore, very soon, he yelled at the risk of default.
It is especially during the turmoil of thecrypto winter of the second half of 2022 that these wolves howled together to say that El Salvador would default on its debt, to the point of forcing the President Nayib Bukele in answer and tell him otherwise end of July 2022.
Even though El Salvador’s debt was mostly gouged by governments preceding his own, the Salvadoran president did he kept his promise reimbursement. The totality of 800 million dollars of the matured obligations, as well as the interest on them, has been settled in due time.
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Nayib Bukele mocks alarmists, calling them ‘liars’
Obviously very annoyed with those who doubted his word, again President Bukele published a thread on his official Twitter account, this January 24, 2023. There he denounces the “alarmist masquerade” of who it seemed to be above all against adoption of bitcoin as legal tender in the country.
“Over the past year, almost every major international media has claimed that because of our ‘Bitcoin bet’, El Salvador will default on its debt by January 2023. (…) Literally hundreds of ‘articles’.
They were all saying that if we didn’t reach an agreement with the IMF, we wouldn’t be able to pay our 2023 obligation due to our “Bitcoin losses”.
Whole pages in the New York Times (…) creating the narrative that El Salvador was broke and going into default.
Good ! We just paid the entire $800 million [de dette obligataire], more interests. But of course, hardly anyone covers this story. (…) They lie and lie and lie again. And when their lies are exposed, they go into radio silence. »
If El Salvador seems to be paying off its ruby-to-nail debts, it is curious to see that the IMF is not interested or worried by the fact that, on the side of the Francedebt has exploded from 2,000 billion euros (accumulated over 40 years) to over 3 trillion euros just in the last 6 short years. And the federal debt of United States which now surpasses $31.5 trillion ? Surely nonsense for the supranational body. The IMF prefers break the back of countries like Argentinawho would dare to imagine using bitcoins to fight against against inflation fiat currencies.
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