The IMF is back to manipulating the public. They claim Argentina has prohibited crypto use over concerns on financial stability, financial crimes, and corruption. The reality is the IMF forced Argentina to block crypto use in return for a IMF loan that Ar

I must say I'm rather pissed about this. I've been following Argentina as well as the economy and financial situation of Argentina and Latin America for while now. The IMF has always had significant power over these developing nations who have had quite a number of currency issues, namely inflation. And the manipulation by the IMF here is disgusting in their recent statement.

https://preview.redd.it/smx9lsw0em7b1.png?width=608&format=png&auto=webp&s=423abbd2301224a8b15d69e08e6f37ee682b9765

They released a statement that reads "countries like Argentina and the Dominican Republic have prohibited the use of crypto assets due to concerns about their impact on financial stability, currency and asset substitution, tax evasion, corruption, and money laundering." There is a clear statement here that Argentina has organically and for themselves decided to discourage crypto usage, but this is not the case. In actuality, Argentina was forced to discourage crypto usage if they wanted to receive the loan.

Letter of Intent for Loan

Argentina has been grappling with inflation(currently over 100%) and financial and economic instability for many years now and have a very unhealthy relationship with the IMF. The actually hold a bunch of record with the IMF for the amount of times and money they have borrowed from the IMF. This latest IMF deal is the 23rd of the nations history. Instead of giving the people a real chance with something new and usable in crypto, they go right back to the IMF which has failed them time and time again.

And of course, in the same article they bash crypto and go on to praise CBDCs.

https://preview.redd.it/zjbqtg8whm7b1.png?width=605&format=png&auto=webp&s=422942a99681121b196d0d87113b37caef2baaec

https://www.imf.org/en/News/Articles/2023/06/22/cf-interest-in-cb-digital-currencies-picks-up-in-latam-the-caribbean-while-crypto-use-varies

https://finance.yahoo.com/news/argentina-imf-bailout-deal-includes-190748787.html