John Dennehy on Nostr: According to the IMF, El Salvador is still compliant with the loan agreement--which ...

According to the IMF, El Salvador is still compliant with the loan agreement--which prohibits spending public money (buying) or resources (mining) to accumulate new Bitcoin

Yet more Bitcoin is added every day to the public wallet

I see two possibilities

1. The govt is transferring Bitcoin from their undisclosed (to the public, but disclosed to the IMF) wallets into their public one

2. Some private entity is donating to the public wallet--perhaps Tether

In both possibilities El Salvador is trying to walk the tightrope of actually complying with the IMF but projecting an image of defiance & independence to the public

I still think the best action would have been for President Bukeke to just talk directly & honestly with his nation

Though, I'm an idealist who thinks we can reimagine our world and build a better one. For a politician trying to be popular in the present, marketing sometimes matters more than truth--which seems to be the conclusion he came to on this issue

And, sadly, he is very likely correct in the assumption that the false viral message of defiance will spread much faster and farther than a complicated and nuanced truth