IMF Approves $138M Payout for El Salvador After Waiving Bitcoin Accumulation Limits

El Salvador has successfully secured an immediate disbursement of around $138 million from the International Monetary Fund (IMF) after completing two reviews of its $1.4 billion program and granting waivers for missed conditions, including one tied to Bitcoin accumulation.

The IMF approved the waiver due to corrective measures taken by El Salvador's authorities and renewed commitments to meet the required conditions. The lender found that several performance criteria had not been met, but granted waivers after reviewing documentation supplied by El Salvador.

The IMF stated that it expects no further Bitcoin accumulation beyond documented donations under the current lending program commitments. This move comes as a relief for El Salvador, which has been facing challenges in meeting its conditions under the IMF program.