First time I see this. Could you share some links?
While I believe it's ok for my government to invest public funds in assets with different risk profiles. I would like to see an official website and an audited financial report.
This is not a far-fetched requirement for El Salvador, where a corporation with just $2000 in equity has to submit a yearly audited balance sheet for public record. Or even small town credit unions with assets a fraction of the bitcoin funds have to publish full reports online.
That's less than 8 dollars per capita. Hardly enough to solve a financial crisis.
First the country's access to international financing is still limited.
Right now International bondholders are being paid, but two major local debts have been renegotiated.
Last year the national banking association "voluntarily renegotiated" its short term with the government from 1 to 7 years. For context, the banks liquidity requirement has been lowered since 2020 and banks can buy more government issued bonds.
Also last year the ruling party changed the Retirement Fund law. And there have been changes to the individual and collective retirement savings accounts.
One of the changes on the collective accounts was that the old financial instruments that were interest paying were changed for new ones that include a four year 0% interest rate paid back to the account owners.
Information regarding this has been limited to a couple of paragraphs by foreign credit risk rating agencies and a tweet by the Retirement Savings management companies.
There is no publicly available prospectus for that new government debt, and the Retirement Fund statistics and reports haven't been updated for months.
Like if you go to check for a recent report on the regulatory government agency you get literally 404 errors.
On the other hand, when I keep seeing news about El Salvador getting out of a national financial crisis with bitcoin, or Sam Altman issuing a worldcoin, or what Optimism did with artificial intelligence, I wonder if it's really worthless.
Some say that various tokens will be in the spotlight at Endivia's upcoming event, but what I'm most interested in is whether this crypto market really helps with AI distributed processing. In fact, when creating an LLM, the biggest concern is how to handle quantised data.