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With IMF Deal, Bukele Rolls Back Bitcoin Ambitions
CENTRAL AMERICA IN MINUTES, Ep. 9: The Salvadoran Court of Accounts planned to let Agriculture Minister Pablo Anliker off the hook for $60 million in Covid-19 fraud while ordering six of his subordinates to repay the money from contracts he signed.
After three years of negotiations, El Salvador secures a $1.4 billion debt refinancing lifeline from the IMF and stands to obtain more from other financiers — in exchange for rolling back plans for Bitcoin, which will no longer be legal tender.
The Nicaraguan Central Bank pushes to de-dollarize to increase monetary control, decreeing that most goods and services be quoted in córdobas. The regime, close to BRICS nations China and Russia, has criticized the “global dictatorship of the dollar.”
El Faro English translates Central America. Listen to Central America in Minutes every Friday on major podcast platforms.
Help fund independent journalism in Central America by joining our crowdfunding community at support.elfaro.net. Be sure to subscribe and leave us a review. Our mantra this year at El Faro English is simple: Journalism must go on.
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By El Faro English
5
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CENTRAL AMERICA IN MINUTES, Ep. 9: The Salvadoran Court of Accounts planned to let Agriculture Minister Pablo Anliker off the hook for $60 million in Covid-19 fraud while ordering six of his subordinates to repay the money from contracts he signed.
After three years of negotiations, El Salvador secures a $1.4 billion debt refinancing lifeline from the IMF and stands to obtain more from other financiers — in exchange for rolling back plans for Bitcoin, which will no longer be legal tender.
The Nicaraguan Central Bank pushes to de-dollarize to increase monetary control, decreeing that most goods and services be quoted in córdobas. The regime, close to BRICS nations China and Russia, has criticized the “global dictatorship of the dollar.”
El Faro English translates Central America. Listen to Central America in Minutes every Friday on major podcast platforms.
Help fund independent journalism in Central America by joining our crowdfunding community at support.elfaro.net. Be sure to subscribe and leave us a review. Our mantra this year at El Faro English is simple: Journalism must go on.
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