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El Salvador gets $138m IMF payout after Bitcoin waivers

The IMF has released about $138m to El Salvador under its $1.4bn programme, granting waivers after some targets, including Bitcoin accumulation, were missed.

Why it matters: The payout shows the IMF accepting El Salvador's Bitcoin holdings as donation-funded while pushing the state further out of crypto activities.

InvestIn.News NewsDesk · 1 min read
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Picture from CoinTelegraph for: El Salvador gets $138m IMF payout after Bitcoin waivers
Image: Cointelegraph
Original reporting: Michael Millard, Cointelegraph

Key points

  • The IMF's Executive Board completed the second and third reviews of El Salvador's 40-month Extended Fund Facility on Thursday.
  • About $138m was approved for immediate disbursement under the $1.4bn programme.
  • Waivers were granted based on corrective measures and commitments, with no further Bitcoin accumulation envisaged beyond documented donations.

El Salvador has received about $138m from the IMF after the fund granted waivers for missed targets, including on Bitcoin accumulation. The IMF's Executive Board completed the second and third reviews of the country's 40-month Extended Fund Facility on Thursday, according to a press release cited by Cointelegraph. The disbursement forms part of a $1.4bn financing programme.

The IMF said some performance criteria were not met, but it approved the waivers based on what it called strong corrective measures and renewed commitments.

It added that no further Bitcoin accumulation is envisaged beyond documented donations.

What to watch: The IMF said efforts will continue to reduce state involvement in Bitcoin-related activities and strengthen crypto-asset regulation and governance.

Read the full story on Cointelegraph

Live updates on NewsFeeds:BitcoinRegulationDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Cointelegraph’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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