The International Monetary Fund has responded to the demand from El Salvador’s Finance Minister Alejandro Zelaya. Last Tuesday, the IMF urged El Salvador to eliminate Bitcoin’s legal status in the nation in a statement. In an interview with VTM Nieuws, El Salvador President Nayib Bukele predicted that Bitcoin’s price will “explode.”
The International Monetary Fund’s recent demands that El Salvador eliminate Bitcoin as a legal currency has prompted a harsh response from the government.
El Salvador rejects IMF’s demands
The finance minister, Alejandro Zelaya, said that the country will not cease to support Bitcoin as a legal currency.
“No international organization is going to make us do anything.” He also treated the demand as an affront to El Salvador’s independence, stating that “countries are sovereign nations and they make sovereign decisions about public policy.”
-Zelaya
According to reports from multiple news sources, these comments were made on a local television station during an interview.
In September 2021, El Salvador became the first nation to accept Bitcoin as legal currency.
