IMF Approves $139 Million for El Salvador After Waiver for Bitcoin Breach

According to Bloomberg, the International Monetary Fund (IMF) approved an immediate $139 million disbursement to El Salvador after granting a waiver for the government’s breach of restrictions on further Bitcoin accumulation. The IMF’s executive board completed the second and third reviews under the country’s $1.4 billion Extended Fund Facility.

The IMF said El Salvador’s economic activity had exceeded expectations and forecast growth of 4.5% this year and 4% in 2027. It also urged the government to halt further Bitcoin accumulation, continue reducing the state’s involvement in crypto, and fully transfer its remaining exposure to the Chivo crypto wallet to the private sector. — link