The International Monetary Fund has completed the second and third reviews of El Salvador’s $1.4 billion financing arrangement and approved a $139 million disbursement, according to ChainCatcher. The IMF also granted a waiver after the country breached limits tied to its Bitcoin holdings. At the same time, the fund said it now expects the Salvadoran government not to buy more Bitcoin, except for documented donations. It also said the country will increase transparency around its public Bitcoin holdings. The update ties fresh funding to continued oversight of El Salvador’s commitments under the financing program, while keeping the focus on restrictions and disclosure tied to the government’s Bitcoin position.
The International Monetary Fund has completed the second and third reviews of El Salvador’s $1.4 billion financing arrangement and disbursed $139 million, according to ChainCatcher.
The IMF also granted a waiver after El Salvador breached limits on Bitcoin holdings. It now expects the Salvadoran government not to purchase additional Bitcoin, except for documented donations, and said the country will increase transparency around its public Bitcoin holdings.
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