IMF praises El Salvador’s 4% GDP growth as bitcoin tensions ease
The IMF praised El Salvador's stronger-than-expected 4% GDP growth while noting progress on Bitcoin transparency amid ongoing loan negotiations.Summary
The International Monetary Fund (IMF) commended El Salvador for projecting an economic growth rate of around 4% this year, attributing the faster-than-anticipated expansion to improved confidence, record remittances, and buoyant investment. This positive assessment notably omitted previous IMF suggestions about halting El Salvador's strategy of accumulating Bitcoin, a practice the country, led by President Nayib Bukele, has continued. El Salvador recently added over 1,000 BTC during a November selloff, bringing its total holdings to nearly 7,500 BTC. The IMF acknowledged that discussions regarding the Bitcoin project continue, focusing on enhancing transparency, safeguarding public resources, and mitigating risks, and also noted that negotiations for the sale of the government's Chivo crypto wallet are "well advanced." The IMF engagement is expected to continue as both parties work toward completing the second review of El Salvador's $3.5 billion Extended Fund Facility (EFF) loan package agreed upon in March.
(Source：CoinDesk)