El Salvador Secures $140M from IMF After Proving Bitcoin Fund Source

The International Monetary Fund (IMF) has reached an agreement with El Salvador that gives it access to $140 million in fresh funding.

This deal comes after the IMF questioned El Salvador's Bitcoin purchases, which were initially made using state funds.

However, the Salvadoran government was able to prove to the IMF that these purchases were actually funded by private donations, not state money.

The country will now receive $140 million in funding as part of a total facility of $1.4 billion, which is 360% of El Salvador's IMF quota.