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927 points smallerfish | 2 comments | | HN request time: 0.511s | source
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josu ◴[] No.42925443[source]
While it is true that adoption remained relatively low, the reason why they abandoned it is that the IMF made it a condition for the Salvadorian government to be able to receive a 1.4B loan.
replies(1): >>42925981 #
rsanek ◴[] No.42925981[source]
Why did they need the loan so bad they had to change their currency?
replies(2): >>42926248 #>>42927271 #
1. josu ◴[] No.42927271[source]
They didn't, the IMF just offers better terms than the free market. And they are still doing their Bitcoin thing, this was just a small concession they were willing to make.
replies(1): >>42933814 #
2. el-salvador ◴[] No.42933814[source]
El Salvador has had limited or very expensive access to the bond market for the past years. I thinkneed it, otherwise they wouldn't have made a law to loan money from El Salvador's pension funds with 0% interest.