Governor of El Salvador’s Central Bank: The adoption of Bitcoin will not affect El Salvador’s negotiations with the International Monetary Fund

Governor of El Salvador’s Central Bank: The adoption of Bitcoin will not affect El Salvador’s negotiations with the International Monetary Fund

2021/10/20

According to reports, the President of the Central Reserve Bank of El Salvador, Douglas Rodriguez, dismissed concerns that the country’s adoption of Bitcoin as legal tender would undermine the International Monetary Fund’s (IMF) US$1.3 billion loan program.Rodriguez said that even if the central bank is preparing to obtain an extended loan from the International Monetary Fund, the central bank has not seen any risks associated with the Bitcoin law.In fact, the central bank described El Salvador’s Bitcoin law as having only “upside risks”,Rodriguez said that the Bitcoin bull market can help the country's economic growth exceed the original forecast by more than 9%.According to Rodriguez, the central bank has explained to the International Monetary Fund that “Bitcoin is just a method of payment.”

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