Crypto
IMF OKs $138 Million for El Salvador Amid Missed Bitcoin Targets
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, including targets related to Bitcoin accumulation.
The IMF granted waivers for these missed targets due to 'strong corrective measures and renewed commitments' from the government of El Salvador.
El Salvador has shown progress in financial sector reforms, fiscal transparency, Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) reforms, and the transfer of majority ownership of the Chivo Bitcoin wallet to a private operator.