El Salvador receives $138 million from IMF after Bitcoin waivers granted
Efforts will continue to reduce the state’s involvement in Bitcoin-related activities and to strengthen crypto‑asset regulation and governance, the IMF said.
The International Monetary Fund approved the immediate disbursement of about $138 million to El Salvador under the country’s $1.4 billion financing program, despite some performance criteria being missed.
The IMF’s Executive Board completed the second and third reviews under El Salvador’s 40-month Extended Fund Facility (EFF) arrangement on Thursday, it said in a press release.
While certain performance criteria were not met, including on the Bitcoin accumulation front, the IMF granted waivers “based on strong corrective measures and renewed commitments.”