Sovereign Analysis /
El Salvador

El Salvador: Bitcoin bond plan hits its US$ debt as IMF programme hopes die

  • IMF statement following conclusion of Article IV mission appears to make programme unlikely

  • IMF calls for 4% of GDP fiscal consolidation and says Bitcoin should not be used as a legal tender

  • The government's Bitcoin bond plan may also signal it has given up on the IMF in turn, sending bonds lower; retain Hold

El Salvador: Bitcoin bond plan hits its US$ debt as IMF programme hopes die
Stuart Culverhouse
Stuart Culverhouse

Head of Sovereign & Fixed Income Research

Tellimer Research
24 November 2021
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