El Salvador Finalizes $1.4 Billion Loan Deal with IMF

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 20h ago

IMF Loan Approval: The International Monetary Fund (IMF) has approved a $1.4 billion loan for El Salvador, focusing on economic reforms and risk mitigation related to Bitcoin, with a compliance deadline set for the end of 2025.
Chivo Wallet Sale and Regulation: The agreement includes advanced negotiations for the sale of the government e-wallet, Chivo, and emphasizes the need for enhanced transparency and reduced public sector involvement in Bitcoin transactions.
Shift in Bitcoin Policy: El Salvador is shifting its Bitcoin policy, agreeing to halt mandatory Bitcoin acceptance by merchants and to limit government purchases of Bitcoin, while still maintaining its legal tender status.
Future Compliance and Fiscal Goals: El Salvador has until the end of 2025 to meet compliance requirements related to Bitcoin, with a focus on fiscal consolidation and a budget aimed at reducing deficits by 2026.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

El Salvador Finalizes $1.4 Billion Loan Deal with IMF

About the author

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