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03 October, 2024

IMF Urges El Salvador to Rethink Bitcoin Regulations

03 October, 2024

The International Monetary Fund (IMF) has expressed concerns regarding El Salvador’s Bitcoin regulations, urging the country to reconsider its approach. With a 3% annual GDP growth rate and approximately $144 million in outstanding loans, El Salvador’s economic landscape is a key focus for the IMF. The organization believes that El Salvador’s Bitcoin adoption, including its legal tender status, has introduced significant risks and complexities to the financial system. The IMF’s recommendations emphasize the need for a more balanced approach that prioritizes financial stability and economic growth.