IMF Says El Salvador Met Most Targets As Part Of $1.4 Billion Funding Program, But Wants To ‘Ensure’ Country’s Bitcoin Holdings Don’t Grow
The International Monetary Fund said Tuesday that it will “ensure” El Salvador does not increase its Bitcoin (CRYPTO: BTC) stockpile, which conflicts with the Central American nation’s state policy.
What Happened: The IMF’s announcement came as part of its first review of the Extended Fund Facility deal with El Salvador earlier this year. Both parties have reached a staff-level agreement on the matter. The country is set to receive about $120 million upon approval by the IMF Executive Board.
“The authorities have made significant progress in implementing their economic reform plan under the IMF-supported program. Most program targets set for the first review were comfortably met, and implementation of the structural benchmarks is progressing well,” the IMF staff said in a statement.
Regarding El Salvador’s Bitcoin investments, …
About The Author
