> The government, she assured, will continue buying bitcoin and having reserves in this cryptocurrency
Sounds like the term "Failed Experiment" is the writer's assertion and not the government official position.
replies(10):
Sounds like the term "Failed Experiment" is the writer's assertion and not the government official position.
--https://reason.com/2025/02/03/el-salvador-walks-back-its-bit...
Sounds pretty failed to me.
not taking loans from them…
The IMF (or its donor nations) aren’t forcing anyone to take loans from them. Countries do that because the IMF offers much cheaper rates they can get anywhere else and is willing to forgive those loans far more easily than any other entity.
In return it expects certain good governance changes that are stated upfront as conditions to receive the loans you could very well get from anywhere else in the world.
Don’t like what they consider good governance? Don’t take a loan from them. Go get in the private market or the variety of nations willing to lend at far more onerous terms.
For example, in Argentina (2001), President Fernando de la Rúa followed the IMF’s austerity policies despite mass protests. The economy collapsed, and he fled the country via helicopter. But the elites who benefited from privatization kept their wealth while everyday citizens suffered