Argentinian Crypto Community Condemn IMF Requirement

Early hours of March 13, 2022, Argentina’s lower house of Congress passed a bill discussing a refinancing agreement with the International Monetary Fund (IMF). IMF’s Debatable Step Includes Restructuring Agreement The IMF loans accumulated during the early decades were repaid by the former President of Argentina, Nestor Kirchner. After President Kirchner, the Right-Wing President Marci came to power and IMF re-entered the country. A debt of $57 billion had been accumulated during his presidency. Presently, the government has reached an agreement with the IMF concerning the clearance of debts. The new agreement discusses the implications of the deal on crypto adoption. The IMF loans accumulated during the early decades were repaid by the former president of Argentina, Nestor Kirchner, and the husband of the present Vice President of Argentina, Cristina Fernandez de Kirchner. When the right-wing President Marci came to power, IMF re-entered the country and contracted up to $57 billion in loans. Presently, the government has reached an agreement with the IMF concerning clearing out the debts. The agreement between Argentina and IMF regarding the refinancing of the debt declares, “The National Government, for a better safeguard of financial stability, will discourage the use of cryptocurrencies.” This particular move is taken to encourage anti-money laundering. Additionally, digitization of payment will require official incentives...