El Salvador's bitcoin adoption has "immediate implications" for rating - S&P Global


FILE PHOTO A representation of cryptocurrency Bitcoin is seen in this illustration taken August 6 2021. REUTERSDado RuvicIllustrationFile PhotoFile PhotoFile PhotoFile Photo

FILE PHOTO: A representation of cryptocurrency Bitcoin is seen in this illustration taken August 6, 2021. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo/File Photo/File Photo

LONDON (Reuters) - El Salvador's adoption of bitcoin as legal tender has immediate negative implications for it credit rating S&P Global said on Thursday.

S&P said the main risks were that it could threaten its hopes of securing a support programme with the International Monetary Fund, increase fiscal vulnerabilities and hurt banks by creating currency mismatches when they dish out loans.

Subscribe now and stand a chance to win prizes worth over RM40,000! T&C applies.

Monthly Plan

RM 13.90/month

RM 9.73/month

Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 8.63/month

Billed as RM 103.60 for the 1st year, RM 148 thereafter.


Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Others Also Read


Want to listen to full audio?

Unlock unlimited access to enjoy personalise features on the TheStar.com.my

Already a subscriber? Log In