Commentators have accused the World Bank of hypocrisy and ignorance after declaring that it would not support El Salvador and its President Nayib Bukele in their plan to create a Bitcoin (BTC) -driven economy – claiming that Bitcoin is “the environment” and “Transparency” have shown. Defects.”
Per Reuters, a World Bank spokesman, claimed El Salvador turned to him for help – but that it denied the request, stating:
“We are committed to supporting El Salvador in a variety of ways, including currency transparency and regulatory processes. Although the government has asked us for help with Bitcoin, the World Bank cannot support this in view of the environmental and transparency deficiencies. “
The statement sparked a furious backlash as the World Bank itself is investing billions in fossil fuels, despite requests from European officials to stop funding projects of this type.
A Bloomberg items April 1 contained evidence from German environmental lobby group Urgewald that the World Bank had spent over $ 2 billion on such projects in the past two years alone.
Other prominent crypto posters had their say, with @heavilyarmedc survey What “transparency concerns” the organization might be addressing since Bitcoin is “literally a public ledger,” acknowledged that they were concerned whether the news would “undermine El Salvador’s steadfastness in the entire ordeal.”
Messari co-founder Dan McArdle also questioned the “transparency” claims. Add:
“Environmental concerns are way over the top, although this is at least a complex issue. But transparency? The World Bank [is] shows a lot of ignorance here. “
Author and BTC commentator Jeff Booth was determined to opinion:
“Trying to control a narrative through an open lie will explode sharply as more people find the truth, and as a result create an entirely new funding model and race around the Bitcoin ecosystem.”
And crypto investor Anthony Pompliano went one step further, propose The reason for the statement was that “the World Bank has not figured out how to make money with Bitcoin”.
Regardless, it seems El Salvador doesn’t have to do this entirely on its own. In a conversation with the state media, Salvadoran finance minister and chief financial officer Alejandro Zelaya said that the government had held talks with the International Monetary Fund (IMF), which was “not against” the introduction of BTC per se.
And Per La Prensa Gráfica, Zelaya confirmed that the Central American Bank for Economic Integration (the Banco Centroamericano de Integración Económica, or BCIE) was on board with their plans to introduce Bitcoin.
As reported, the BCIE chief stated that the organization was ready to “provide technical assistance” to the chief financial officer of El Salvador and its central bank – and to set up a “team to work on implementation”.
And the BCIE seems to have already started its claims. Zelaya said the organization had “unofficially” sent a profile of one of the consultants who could provide technical assistance to El Salvador in implementing Bitcoin.
The finance minister stated:
“There will be a multidisciplinary group that will deal with the issue.”
(Photo: El Zonte Spanish School)