The International Monetary Fund (IMF) is trying to increase restrictions on BitCoin purchase through the public sector of L Salvador, which as part of an extension of a $ 1.4 billion financing deal with the country.
On March 3, the IMF submitted a new request to the L -Salvador to extend the financing agreement, which submitted several new documents, including the staff declaration updation and the declaration by the Executive Director of El Salvador.
The agreement mentions the state of the technical memory “There is no voluntary accumulation of BTC through the public sector in El Salvador”.
In addition, the Memorandum calls for a limit to the issue through the public sector “Any type of loan or a Tokinzed tool that is indexed or called in BitCoin and it means a hatred for the public sector.”
An excerpt from Memorandum Technical Anta Dell FMI with El Salvador. Source: IMF
Mandes Burtolo by El Salvador: “Bitcoin -related risks have been reduced”
In a February 26 statement, Mandes Burtulo, Executive Director of El Salvador, pointed out that the IMF’s extension credit line for El Salvador aims to “improve the rule, transparency and flexibility to enhance the country’s confidence and growth”.
“In the meantime, the risks related to the bitcoin are reduced”, Burtulo added:
“Authorities have begun amending BitCoin law, which clarify the legal nature of BitCoin and remove the essential characteristics of the legal currency from the law. Bitcoin acceptance will be voluntary, tax will be paid in the US dollar and the Bitcoin project will be limited to the public sector.”
Burtolo said the program should attract “Extra Financial Help” Through the World Bank, Ben American Development Bank and other regional development banks.
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