The head of the International Monetary Fund (IMF) has urged countries around the world to spend as much as possible and then spend more. She admitted that this is a “very unusual” policy for the IMF, but one that is needed to revitalize economies. Many people interpret their statement as very bullish on Bitcoin.
IMF promotes mass spending
IMF executive director Kristalina Georgieva has urged governments around the world to spend as much as possible and then spend more. She said at the annual Gaidar Economic Forum in Russia on Friday that policymakers around the world should spend more to revitalize their economies. She was quoted by Reuters as saying:
Regarding the current policy, which is very unusual for the IMF, I would go out from March and say “Please spend”. Spend as much as you can, then spend a little more.
“I continue to advocate monetary policy adjustments and fiscal measures that will protect the economy from collapse if we deliberately restrict both production and consumption,” she added. “IMF staff calculated that a coordinated G20 fiscal stimulus for green infrastructure, if done in a coordinated manner, would generate two-thirds more growth … than if each country acted on its own.” Georgieva also noted that the IMF supported 83 countries in 2020.
Massive government spending on Bitcoin bullish
Bitcoiners on social media consider this news to be extremely optimistic about BTC. Many people interpret the IMF chief’s request as “brrrr as much as possible”. Others commented, “Money printer goes brrrr” and “Buy bitcoin.”
This is not the first time the crypto community has discussed how massive government spending would raise the price of Bitcoin. Formerly Bitcoin investor Bruce Fenton previously described: “Incentives and higher government spending are causing prices to rise, Bitcoin profits.” River Financial tweeted last week:
Many of our largest clients have allocated sizeable funds to Bitcoin, largely due to unsustainable government spending and the Fed’s quantitative easing.
What do you think of the statement made by the IMF boss? Let us know in the comments below.
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Bitcoin, brrrr, BTC, country spending, government spending, IMF, IMF countries, IMF governments, printing money, printing money, spending
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