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How Nayib Bukele Played the IMF with Bitcoin Bargaining Chip

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Manage episode 457321569 series 1348719
Content provided by Impunity Observer. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Impunity Observer or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
Buy Fergus Hodgson's "The Latin America Red Pill" on Amazon! Kindle: https://amzn.to/4fAv4An Paperback: https://amzn.to/49Q01zd After adopting bitcoin as legal tender in El Salvador in June 2021, President Nayib Bukele has agreed to reform the Bitcoin Law to access a US$1.3 billion loan from the International Monetary Fund. Bukele’s government has been negotiating with the IMF for three years. Initially, the IMF firmly rejected any deal so long as El Salvador continued recognizing bitcoin as legal tender. However, in recent negotiations, Bukele has used the Bitcoin Law as a strategic tool, turning it into an asset in his favor. As a result, El Salvador is set to soon receive IMF funds without losing its Bitcoin Law. Read the article: https://impunityobserver.com/2024/12/18/how-nayib-bukele-imf-with-bitcoin-bargaining-chip/
  continue reading

137 episodes

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iconShare
 
Manage episode 457321569 series 1348719
Content provided by Impunity Observer. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Impunity Observer or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
Buy Fergus Hodgson's "The Latin America Red Pill" on Amazon! Kindle: https://amzn.to/4fAv4An Paperback: https://amzn.to/49Q01zd After adopting bitcoin as legal tender in El Salvador in June 2021, President Nayib Bukele has agreed to reform the Bitcoin Law to access a US$1.3 billion loan from the International Monetary Fund. Bukele’s government has been negotiating with the IMF for three years. Initially, the IMF firmly rejected any deal so long as El Salvador continued recognizing bitcoin as legal tender. However, in recent negotiations, Bukele has used the Bitcoin Law as a strategic tool, turning it into an asset in his favor. As a result, El Salvador is set to soon receive IMF funds without losing its Bitcoin Law. Read the article: https://impunityobserver.com/2024/12/18/how-nayib-bukele-imf-with-bitcoin-bargaining-chip/
  continue reading

137 episodes

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