Crypto
IMF Approves $138 Million Tranche for El Salvador Despite Missed Targets
The International Monetary Fund (IMF) has approved an immediate $138 million disbursement to El Salvador under its $1.4 billion financing program, despite some performance criteria not being met.
The decision was made after the IMF's Executive Board completed the second and third reviews of El Salvador's 40-month Extended Fund Facility (EFF) arrangement.
The IMF granted waivers tied to 'strong corrective measures and renewed commitments,' allowing the next tranche of financing to be released immediately.
El Salvador's Bitcoin accumulation was a key point of contention, but the IMF stated that further Bitcoin accumulation will not be carried out beyond previously documented donations.