IMF Grants El Salvador $1.4B Loan, With Conditions on Bitcoin Use
The IMF approved a $1.4 billion credit facility for El Salvador, immediately disbursing $113 million. With the remaining funds to be distributed over 40 months.
This agreement aims to improve El Salvador’s financial stability by addressing high debt and weak financials. The IMF requires El Salvador to limit its government engagement in Bitcoin-related activities, including purchases, as a condition of the loan. Despite this, El Salvador has continued to purchase Bitcoin. Even after reforming its legal tender status to voluntary acceptance. The IMF also anticipates this deal will attract over $3.5 billion in total support for El Salvador.
Clever Robot News Desk 2nd March 2025
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