IMF Approves $138 Million Disbursement to El Salvador Amid Bitcoin Criteria Waivers
- The International Monetary Fund (IMF) approved the release of approximately $138 million to El Salvador as part of a $1.4 billion financing program.
- Despite missing certain performance criteria, including on Bitcoin accumulation, waivers were granted due to corrective measures taken by the country.
- Progress was noted in financial sector reforms and the transfer of majority control of the Chivo Bitcoin wallet to a private operator.
- The IMF emphasized that no further Bitcoin accumulation is planned beyond documented donations.
- El Salvador’s increase in Bitcoin holdings was confirmed to come from private donations, not public funds.
The IMF’s decision reflects ongoing efforts by El Salvador to enhance fiscal transparency and reduce state involvement in Bitcoin-related activities while maintaining regulatory oversight on crypto-assets.
This funding comes after El Salvador reported acquiring over $100 million worth of Bitcoin, raising compliance questions with its IMF program.(Source)
