Tag Archives: imf

Zimbabwe seeks to use gold-backed crypto tokens to salvage the country’s economic situation. The Reserve Bank of Zimbabwe has dammed any potential consequences by selling 14 billion Zimbabwean dollars ($39 million) worth of gold-backed digital tokens. That is despite an earlier warning it received from the International Monetary Fund (IMF) not to go ahead with the plans. At the time, the International body cautioned about the potential risks of the plan, suggesting that Zimbabwe would be...

The IMF has released its weakest global growth forecast in over 30 years as inflation, banking crises, and geopolitical problems bite hard.  The International Monetary Fund (IMF) recently published its most underwhelming medium-term global growth forecast in over 30 years. On Tuesday, the major United Nations (UN) financial agency expected global growth of 2.8% in 2023 and 3% in 2024. This forecast comes in slightly below what the IMF estimated in January as continued inflation and a...

The International Monetary Fund (IMF) has stated that the risks surrounding bitcoin use in El Salvador have not necessarily shown themselves yet. However, the agency has reported it’s necessary to stay aware and that El Salvador still warrants both attention and transparency. The IMF Is Still Worried About El Salvador and BTC El Salvador – which at one point was one of the smallest nations in the world and didn’t strike fear or interest in many people’s hearts – has...

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The International Monetary Fund (IMF) is concerned about the crypto space after the collapse of both Luna and Terra USD. The IMF Is Worried About Ongoing Crypto Use The latter was an algorithmic stable currency that lost its peg a few months ago. This resulted in not only the coin and its sister asset Luna collapsing completely, but investors ultimately losing billions of dollars overnight. The IMF said in a recent interview that this likely won’t be the only time...

The International Monetary Fund (IMF) is worried about all the bitcoin love and adoption that’s occurring all over the world. The agency feels that all this bitcoin usage bears some level of danger to the world’s standard financial systems. The IMF Warns About Further Bitcoin Usage Interestingly, the IMF recently expressed this concern directly to El Salvador, a Central American nation that declared bitcoin legal tender back in September of last year. Now in its seventh...

As a means of avoiding assistance from the International Monetary Fund (IMF), the Central American nation of El Salvador is looking to sell debt that’s fully backed by bitcoin. The IMF has already asked the country to avoid all bitcoin activity in the future, though El Salvador graciously responded by giving the global organization the finger, claiming on social media that it would never step away from crypto. El Salvador Will Sell Bitcoin-Backed Debt The bitcoin-backed...

Nayib Bukele – the president of the Central American country of El Salvador – is telling the International Monetary Fund (IMF) to “talk to the hand” because he’s clearly not listening. El Salvador Isn’t Listening to the IMF Not long ago, the IMF made headlines when it practically got down on its knees and begged El Salvador to reject bitcoin forever and dismiss its newfound crypto agenda. Nothing good could come of BTC in the agency’s mind given that the asset is prone...