IMF Tightens Grip on Salvadoran BTC, Brazil Pushes BRICS Payment Strategy
The IMF approved a $1.4 billion credit facility for El Salvador, aiming to strengthen its finances while restricting the government’s Bitcoin activities.
The first $113 million has been disbursed, with the rest arriving over 40 months. The fund hopes this move will attract additional support. Pushing total aid beyond $3.5 billion. Meanwhile, Brazil plans to develop secure BRICS-native payment systems during its 2025 presidency. President Lula da Silva sees this initiative as a step toward reducing reliance on Western financial networks and boosting economic ties within BRICS.
Clever Robot News Desk 3rd March 2025
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