US Diplomat Voices Hope for Resolution in IMF, El Salvador Financing Tensions: Report

A high-ranking U.S. diplomat said she hoped El Salvador and the International Monetary Fund (IMF) would come to terms on a financing agreement following differences over the country’s bitcoin law.

• Victoria Nuland, U.S. undersecretary for political affairs, met with President Nayib Bukele on Wednesday as part of her tour of the region, Reuters reported Thursday.

• The Central American country on June 8 became the first in the world to recognize the cryptocurrency as legal tender and is expected to enshrine it into law on Sept. 7.

• The IMF, which is an international organization that oversees global economic growth and financial stability, previously voiced concerns over El Salvador’s intentions.

• Gerry Rice, spokesperson for the IMF, previously said El Salvador’s decision and law raises a number of macroeconomic, financial and legal issues that require “very careful analysis.”

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