Haters just have to watch out – Since El Salvador made Bitcoin (BTC) a legal tender currencyall international bodies, such as the IMFdo not bring him no more help. However, the small Central American country has just refundwith no apparent problem, all of the $800 million of bonds he owed with interest.
Bitcoin clearly did not “kill” El Salvador, which settles its obligations well
When El Salvador decided Bitcoin would be its national currency, the bond markets played against the debt of this Central American nation. the International Monetary Fund (IMF) had thus, very early on, howled at the risk of default.
It is especially during the turmoil of thecrypto winter of the second half of 2022 that these wolves howled together to say that El Salvador would default on its debt, to the point of forcing the President Nayib Bukele at answer them and tell them otherwise at the end of July 2022.
Even though El Salvador’s debt was dug mainly by governments preceding his, the Salvadoran president has kept his promise reimbursement. The entirety of $800 million of obligations due, as well as their interest, has been settled in due time.
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Nayib Bukele mocks alarmists, calling them “liars”
Obviously very upset against those who doubted his word, President Bukele again published a thread on his official Twitter account, this January 24, 2023. He denounces the “alarmist masquerade” of those who seemed above all to be against adopting of bitcoin as legal tender in the country.
“Over the past year, almost every international mainstream media has said that because of our “Bitcoin bet”, El Salvador will default on its debt by January 2023. (…) Literally hundreds of ‘items.
They were all saying that if we didn’t reach an agreement with the IMF, we would be unable to pay our 2023 bond due to our ‘Bitcoin losses’.
Whole pages on the New York Times (…) creating the narrative that El Salvador was broke and going to default.
Well ! We just paid the full $800 million [de dette obligataire], plus interest. But of course, hardly anyone covers this story. (…) They lie and lie and lie again. And when their lies are exposed, they go into radio silence. »
Nayib Bukele
If El Salvador seems to be paying its debts ruby on the nail, it is curious to see that the IMF is not interested or worried by the fact that, on the side of the Francethe debt exploded from 2,000 billion euros (accumulated in 40 years) to more than 3 trillion euros for the last 6 short years alone. And the federal debt of United States which now exceeds $31.5 trillion ? Surely, a trifle for the supranational body. The IMF prefers break the backs of countries, like Argentinawho would dare to imagine using Bitcoin to to struggle against against inflation fiat currencies.
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