The Marshall Islands’ president, Hilda Heine, says accusations that she is destroying the country’s financial reputation by adopting a cryptocurrency are “baseless” and her opponents are being unduly influenced by pressure from China. Earlier this week eight senators moved to pass a vote of no confidence in Heine, the first female leader of any Pacific Island. The vote is scheduled to take place next week.
Heine’s opponents said she had bought the country’s financial reputation into disrepute by pushing ahead with the adoption of the cryptocurrency Sovereign as the country’s second legal tender, despite strident warnings from the International Monetary Fund to drop the “risky” plan.
Heine’s opponents said she had bought the country’s financial reputation into disrepute by pushing ahead with the adoption of the cryptocurrency Sovereign as the country’s second legal tender, despite strident warnings from the International Monetary Fund to drop the “risky” plan.
