Sovereign Analysis /
El Salvador

IMF takes swipe at El Salvador's use of Bitcoin as legal currency

  • The IMF Blog on the use of cryptoassets as national currency published yesterday has relevance for El Salvador

  • Without mentioning El Salvador by name, the Fund warned that the risks and costs outweigh the potential benefits

  • Still, the IMF confirmed last week that El Salvador's programme discussions are continuing; we maintain our Hold

IMF takes swipe at El Salvador's use of Bitcoin as legal currency
Stuart Culverhouse
Stuart Culverhouse

Head of Sovereign & Fixed Income Research

Tellimer Research
27 July 2021
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