IMF Disburses $138 Million to El Salvador Following Bitcoin Waivers
The International Monetary Fund (IMF) has approved an immediate disbursement of approximately $138 million to El Salvador. This funding is part of the country's ongoing $1.4 billion Extended Fund Facility (EFF) arrangement. The decision comes after the IMF's Executive Board completed its second and third reviews of the program. Notably, the IMF granted waivers for certain missed performance criteria, including those related to Bitcoin accumulation. These waivers were issued based on El Salvador's implementation of strong corrective measures and renewed commitments to the program's objectives. The IMF acknowledged El Salvador's progress in several key areas, including financial sector reforms, fiscal transparency, and anti-money laundering/combating the financing of terrorism (AML/CFT) reforms. Furthermore, the government has transferred majority ownership and operational control of the Chivo Bitcoin wallet to a private operator, retaining only a minority stake and custodial responsibilities. The IMF has al...
