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“#El Salvador urged by IMF to drop bitcoin as legal tender” The International Monetary Fund is urging El Salvador to drop its controversial embrace of bitcoin as its legal tender, saying it “entails large risks” for the Central American nation’s economy. The IMF made the recommendations after it held negotiations with El Salvador — whose…
“#Afghanistan on brink of economic and humanitarian collapse” KABUL, Afghanistan — Ever since the Taliban took over Afghanistan’s capital on Aug. 15, the country’s already fragile economy has spiraled into despair. Foreign assistance, which previously propped up the nation of 38 million, was immediately frozen. The US halted $9.4 billion in reserves to the country’s…
“#El Salvador to keep dollar as legal tender, seeks World Bank help with bitcoin” El Salvador will not replace the US dollar with bitcoin as the legal tender, Finance Minister Alejandro Zelaya said Wednesday, as the Central American nation sought technical assistance from the World Bank to implement bitcoin regulation. The Central American country this…
“#IMF sees debt soaring to 100 percent of GDP due to COVID-19” Massive government spending to battle the coronavirus pandemic will push public debt to a record of nearly 100 percent of global economic output this year, but the run-up may be a one-off event if growth rebounds next year, the International Monetary Fund said…