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International Monetary Fund urges El Salvador to scale back Bitcoin push

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International Monetary Fund urges El Salvador to scale back Bitcoin push

El Salvador should dissolve the $150 million trust fund it created when it adopted the cryptocurrency bitcoin as legal tender and return any unused funds to its treasury, the International Monetary Fund said on Friday.

The recommendation is part of an international lender’s report on El Salvador’s economy and goes beyond a statement earlier this week urging El Salvador to abandon bitcoin as legal tender.

The trust fund aims to allow automatic conversion of bitcoin into another currency, the U.S. dollar, El Salvador, to encourage people to be wary of the adoption of the highly volatile digital currency.

The IMF also recommends removing the $30 discount to encourage people to start using the digital wallet Chivo, and strengthening regulation of digital wallets to protect consumers. It shows that there may be benefits to using Chivo, but only in US dollars, not bitcoin.

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In the short term, the actual costs of implementing Chivo and implementing Bitcoin laws outweigh the potential benefits, the report said.

The office of El Salvador’s President Nayib Bukele did not immediately respond to a request for comment, but in recent days Bukele has dismissed the IMF’s advice on bitcoin.

The International Monetary Fund has expressed concern over El Salvador’s increasing exposure to bitcoin’s volatility and urged greater transparency.

Government officials told the International Monetary Fund that the introduction of Chivo has greatly improved financial inclusion, drawing millions of previously unbanked people into the financial system. They also talked about a parallel travel promotion for Bitcoin enthusiasts.

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According to the report, the government sees no need to reduce the scope of its bitcoin laws, but could strengthen the agreed regulations.

Bukele has spearheaded the push for Bitcoin alongside the U.S. dollar as legal tender. El Salvador’s Legislative Assembly made the country the first to do so in June, and the Bitcoin law went into effect in September.

What we highlighted in the report is that having a digital wallet that allows people to use digital payment methods and keep their savings there (especially dollars) can be good for the economy and growth, but again I emphasize the IMF Alina Carare, head of the El Salvador delegation, said in a conference call with reporters on Friday that the emphasis on the U.S. dollar was due to the volatility of bitcoin prices.

Bitcoin has plummeted after nearly doubling in value late last year.

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El Salvador and the International Monetary Fund have been negotiating a $1.3 billion loan for months. Carare did not say whether a possible loan would be put on hold if El Salvador continued to use bitcoin as legal tender.

When asked, Carare said that we will continue to be in close contact with the government of El Salvador.

Complete News Source : Business Standard

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Train smarter, not harder: How taking occasional breaks from gym can revolutionise your fitness routine

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Train smarter, not harder: How taking occasional breaks from gym can revolutionise your fitness routine

Taking regular breaks from intense training, like deload weeks, helps your body recover, preventing fatigue and injury, and ultimately boosts fitness gains.

When it comes to getting fit, the idea of spending hours at the gym might come to mind, but many fitness experts argue that taking a “deload week” every six to eight weeks is actually key to improving your fitness gains. A deload week involves reducing the intensity of workouts to allow the body to recover from the fatigue and muscle damage caused by intense training.

While high-intensity training helps build strength and fitness, it can also lead to muscle strain, and without adequate recovery, these gains can’t fully materialise. Deload weeks give the body much-needed rest to repair and rebuild, ensuring continued progress. (Also read: Bhagyashree swears by this super easy exercise for instant leg pain relief and better mobility. Watch how to do it )

Why recovery is key for muscle growth

According to an article by The Conversation, intense exercise can cause tiny tears in muscle fibres, leading to inflammation that requires rest or low-intensity exercise to heal. This inflammation is essential for muscle growth and fitness improvements. However, without proper recovery, muscles remain in a state of slight damage, preventing inflammation from resolving. This chronic state of inflammation can hinder muscle function, reducing oxygen efficiency and impairing performance. Giving muscles time to recover through rest ensures they repair properly and are primed for continued progress, setting us up for greater success in our fitness journey.

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Many gymgoers fear taking time off and are worried it will lead to a loss of gains. However, research shows that muscle genes have a “memory imprint,” which keeps them in a semi-prepared state. This allows muscles to respond more quickly and effectively to future training, promoting growth after a rest period. Even after extended periods of reduced intensity, up to seven weeks, muscular fitness can be restored to prime condition—and in some cases, surpass previous levels. Interestingly, recovery can occur twice as fast as it took to reach peak fitness initially, even if some strength is lost.

Taking time off from intense training is crucial to prevent muscle soreness and avoid overtraining syndrome. Overtraining occurs when the body doesn’t get enough rest, leading to prolonged fatigue, decreased performance, and mood disturbances. Symptoms develop gradually, making overtraining difficult to recognize until it’s severe. Rest is essential to avoid these issues and ensure long-term progress in training.

Role of overtraining syndrome and deload weeks

Overtraining syndrome is challenging to quantify due to its vague symptoms. Studies suggest it may affect as few as 10% of elite athletes, though rates could climb to 60% among highly competitive individuals. Recovery is essential for both fitness and overall health. When engaging in heavy gym routines, it’s vital to incorporate sufficient recovery time into your workout plan. Unlike rest days, which involve little to no exercise once or twice a week, deload weeks feature lighter training at reduced intensity—typically about 50% fewer workouts or a 20% drop in workout intensity.

Both rest days and deload weeks are essential for recovery and crucial to improving fitness. It’s not about choosing one over the other—they complement each other. For instance, intense training for marathons, Ironman, or CrossFit competitions requires weekly rest days alongside scheduled deload weeks. However, for recreational gym-goers exercising 1–3 times weekly at a moderate intensity, the recovery from this routine is often sufficient without the need for additional deload weeks.

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Fitness influencers recommend incorporating deload weeks into training schedules every 4–8 weeks, aligning closely with the expert advice of 4–6 weeks. However, it’s crucial to listen to your body and schedule deload weeks as needed. If your performance plateaus or worsens, it may signal time for a deload. Training plans should be flexible enough to allow rest when required. Deload weeks not only enhance performance but also support overall health.

Disclaimer: This article is for informational purposes only and not a substitute for professional medical advice. Always seek the advice of your doctor with any questions about a medical condition.

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