Former Chairman of El Salvador Central Bank: BTC Legalization Has Killed Our Relations with the IMF

According to the former head of the central bank of El Salvador, Carlos Acevedo, the country has been unable to find common ground with the International Monetary Fund (IMF), and negotiations with it are “practically dead.”

We are talking about an agreement with the IMF on the allocation of financial assistance. According to the former chairman of the central bank, the crypto initiative cost the country dearly, “killing” relations with the fund.

Acevedo has said that the $1 billion Bitcoin bonds are another difficult issue. They were initially planned to be released by March 15-20, 2022 with the possibility of an additional issue for $500 million.

Half of the profits from the sale of Bitcoin bonds El Salvador was going to be sent to the development of mining infrastructure on geothermal volcanic energy. The other 50% is for the purchase of digital gold for the government trust.