0
0
The post IMF Praises El Salvador for Its 4% GDP Growth in 2025 Amid Its Bitcoin Accumulation Plan appeared first on Coinpedia Fintech News
The International Monetary Fund (IMF) has praised El Salvador for its continued economic growth. The IMF has been working closely with President Nayib Bukele in facilitating the Extended Fund Facility (EFF) program, which was approved earlier this year for $1.4 billion.
According to the IMF, El Salvadorâs economy has been expanding at a faster pace than expected. The international bank stated that record remittances, improved investorsâ confidence, and buoyant investments will help the country achieve a 4% real GDP growth in 2025.Â
According to the EFF program, El Salvador agreed with the IMF to stop its Bitcoin accumulation plan. Additionally, El Salvador agreed to sell its Chivo wallet infrastructure and allow the private sector to operate freely with BTC as a legal tender.
âNegotiations for the sale of the government e-wallet Chivo are well advanced, and discussions with regard to the Bitcoin project continue, centered on enhancing transparency, safeguarding public resources, and mitigating risks,â the IMF report noted.Â
However, on-chain data analysis from Arkham shows that El Salvador has continued with its daily Bitcoin accumulation. Despite the IMFâs restrictive efforts on El Salvadorâs Bitcoin plan, Arkham shows that the country has been accumulating on a daily basis to about 7,508 BTCs at press time.Â
The continued unwavering support for Bitcoin by El Salvador has bolstered its macro bullish outlook. El Salvadorâs President Bukele has remained close to U.S. President Donald Trump, which has also widened the countryâs Bitcoin adoption plan.
As such, the Bitcoin price is well-positioned to follow the gold and silver outlook. With Bitcoin having a fixed supply amid rising global demand, El Salvador is well positioned to repay its public debt with Bitcoin gains in the near future.
0
0
Manage all your crypto, NFT and DeFi from one placeSecurely connect the portfolio youâre using to start.
0
0
