“It does not surprise me that the IMF is making this request of El Salvador for multiple reasons,” David Tawil, president and co-founder of ProChain Capital, told Cointelegraph.
As the world’s lender of last resort to sovereign nations, the IMF is looking to have fewer, not more, borrowers, said Tawil. Then, too, El Salvador doesn’t have a particularly sterling record with the IMF and capital markets generally. But there might be something more self-serving behind it, too, he suggested, adding:
“It is possible that if Bitcoin becomes a strong worldwide reserve currency, the IMF may be deemed a lot less effective and necessary.”