El Salvador receives $138 million from IMF after Bitcoin waivers
IMF approves $138 million for El Salvador amid Bitcoin-related waivers Funding follows reform progress, with more transparency and fewer crypto risks
The International Monetary Fund has approved an immediate disbursement of about $138 million to El Salvador as part of the country’s $1.4 billion financing program. The decision follows the completion of the second and third reviews of the 40month Extended Fund Facility arrangement.
The IMF said some performance targets were missed, including one related to Bitcoin accumulation, but it granted waivers after El Salvador took corrective steps and renewed its commitments. The lender said the country has advanced reforms in the financial sector, fiscal transparency, antimoney laundering and counterterrorism financing, and in transferring control of the Chivo Bitcoin wallet to a private operator.
The IMF also said El Salvador will keep reducing state involvement in Bitcoinrelated activities and improving regulation and transparency around publicsector crypto holdings. It added that no further Bitcoin accumulation is expected beyond documented donations.