The International Monetary Fund, whose help El Salvador is expected to need to ease its problems, has not yet commented on the volcano bond plan. What we knowBukele said El Salvador planned to issue the bond in 2022, suggesting it could be as soon as in 60 days time. That would allow El Salvador to then pay off the bond with profits made from selling the bitcoin again. The International Monetary Fund, whose help El Salvador is expected to need to ease its problems, has not yet commented on the volcano bond plan. Earlier in the year it said it had both economic and legal concerns about El Salvador making bitcoin legal tender.

Source: The Hindu November 23, 2021 15:23 UTC