First of all I want to give a big greeting to all the friends of the hive and especially to the members of this prestigious community such as Leo-Finance. I want to share with all of you this post related to the visit of the IMF to evaluate how the country of El Salvador was able to pay a loan installment of more than 800 million dollars plus interest without causing financial difficulties.
Undoubtedly, with the recovery of bitcoin price and the gradual exit of the crypto winter, many asset holders are very happy as they have been able to capitalize their investment or see how they could soon improve it.
That is why the country of El Salvador this week was able to pay off a debt of more than 80 million dollars to the IMF International Monetary Fund, belonging to the payment of the Eurobond of 2023, product of loans from the former administration that left the country to economic collapse, this was certainly a cause for questioning for the financial executive since it did not request financial aid.
Since the beginning of the new president's vision towards cryptocurrencies was rejected, however, he has been committed and believing in the economy of the future, which is already a present, carried out operations that bore fruit and served to be able to meet the payment of the debt.
The country was visited by an IMF commission to evaluate its economic situation and review whether a refinancing of the payments would be carried out, finding a country with liquidity and with a clear financial recovery, which was not very satisfactory for them, since they see the crypto market as an economic rival that is giving financial independence to the asset holders..
Although the commission states that in its report there is a financial evolution in the country, we know that this is not favorable for them because the country will be able to become economically independent from this institution that is losing its global hegemony little by little and where member countries are discovering a financial alternative such as cryptocurrencies to achieve it, since the Blockchain offers them security, privacy, opportunities and financial independence that with traditional finance is not so.