El Salvador Minister of Economy Maria Luisa Hayem announced that despite the IMF's request to reduce Bitcoin (BTC) purchases within the scope of a $1.4 billion loan agreement, the government continues its Bitcoin purchases.
El Salvador made history as the first country to accept Bitcoin as legal tender in 2021. Since then, the country has faced various economic challenges and international pressures, particularly due to discussions with the International Monetary Fund (IMF), which continues to keep it in the spotlight. The IMF had set the condition of reducing Bitcoin investments in exchange for the $1.4 billion loan offered to El Salvador.
However, Minister Hayem recently stated that the government continues its Bitcoin purchases and clearly expressed that the Bitcoin project remains a priority for the government. This situation indicates that El Salvador has adopted digital assets as part of its economic strategy and shows resilience against international pressures.
Despite the IMF's pressure, the El Salvador government maintains its determination in its Bitcoin policy, arguing that this strategy will provide significant long-term benefits to the country's economy. Officials indicate that Bitcoin purchases are benefiting the country in various sectors, from tourism to foreign investments, signaling that they will not take a step back.
Although El Salvador's Bitcoin policy has been criticized by international financial institutions, the steps taken by the government continue to be closely monitored by the crypto community and other countries.