IMF Approves $139M Payout to El Salvador After Waiving Bitcoin Accumulation Breach
The International Monetary Fund (IMF) has approved a $139 million payout to El Salvador after waiving a breach of its Bitcoin accumulation limit, according to Cointelegraph. The decision allows the financial support to move forward despite the deviation from the agreed-upon terms.
The waiver addresses a breach involving the accumulation limit set under the IMF-supported program for El Salvador. This development is significant as it indicates that the IMF has agreed to allow the identified breach without blocking the $139 million payout.
El Salvador adopted Bitcoin as legal tender in 2021 and accumulated Bitcoin as part of its broader digital-asset strategy. The country's Bitcoin policy remains under IMF oversight, with the accumulation limit forming part of the conditions associated with the IMF program.