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While it is true that adoption remained relatively low, the reason why they abandoned it is that the IMF made it a condition for the Salvadorian government to b
by josu 2y ago
While it is true that adoption remained relatively low, the reason why they abandoned it is that the IMF made it a condition for the Salvadorian government to be able to receive a 1.4B loan.
- rsanek 2y agoWhy did they need the loan so bad they had to change their currency?
- wmf 2y agoBecause they're broke.
- EdwardDiego 2y agoYes, but why.
- josu 2y agoThey didn't, the IMF just offers better terms than the free market. And they are still doing their Bitcoin thing, this was just a small concession they were willing to make.
- el-salvador 2y agoEl Salvador has had limited or very expensive access to the bond market for the past years. I thinkneed it, otherwise they wouldn't have made a law to loan money from El Salvador's pension funds with 0% interest.