IMF Grants Waivers to El Salvador Amid Bitcoin Accumulation Concerns

The International Monetary Fund (IMF) has approved the immediate disbursement of $138 million to El Salvador under its $1.4 billion financing program.

This decision was made despite some performance criteria not being met, particularly regarding Bitcoin accumulation.

However, the IMF granted waivers 'based on strong corrective measures and renewed commitments,' allowing the country to continue with its financial sector reforms and fiscal transparency.

The agency noted that progress had been achieved in AML/CFT reforms and the transfer of majority ownership and control of the Chivo Bitcoin wallet to a private operator.