El Salvador plan of Bitcoin as legal tender in trouble

El Salvador is a Latin American nation. Famous for volcanos, the small yet thickly populated country recently became known for being the first nation to legalise Bitcoin. El Salvador uses the US Dollar as a legal tender as it is one of the few nations that doesn’t have its own currency. Before taking the Bitcoin legalisation proposal to the national assembly for approval, President Nayib Bukele wrote, “It will bring

IMF approves usd 650 billion plan to help nations fight economic fallout of pandemic

The International Monetary Fund board has unanimously backed a proposal to create a $650 billion reserve for its member nations to help them fight the economic fallout of the pandemic. With no opposition to the plan, the final approval due next in line from the Board of Governors is more or less a formality. Once passed, it will be the biggest boost in history given by IMF to its member

China violates Malaysian airspace; Share of USD reserves with central banks globally falls to 59%

China violates Malaysian airspace   China has violated Malaysian airspace. The Malaysian air force detected 16 Chinese fighter jets flying within 60 nautical miles off their Sarawak state. This is the region where China is trying to lay its claim as per the ‘Nine-dash line’. Not only Malaysia and other countries in the region, but also the international tribunal have rejected this ‘Chinese line’. As usual, China has denied wrongdoing