IMF Clears Path for $140 Million El Salvador Bailout

The International Monetary Fund (IMF) has reached a preliminary deal with El Salvador that will unlock $140 million in funding for the country's austerity reform program.

The decision was made after the government satisfied the IMF that its continued Bitcoin purchases were financed by private donations, not public money.

This agreement covers the combined second and third reviews of a 40-month loan program, but still requires sign-off from the IMF's executive board as well as completion of agreed prior actions.