#IMFApproves$139MDisbursementToElSalvador
🇸🇻 IMF approves about $138M for El Salvador — with a Bitcoin-related waiver.
The IMF completed its second and third reviews under El Salvador’s Extended Fund Facility, allowing an immediate disbursement of about $138M. The Board also granted waivers after certain performance criteria were not met, including the Bitcoin accumulation condition.
One important detail: the IMF says documentation showed that Bitcoin accumulated since the first review came from private donations, with no public resources used for that accumulation. It also says no further Bitcoin accumulation is expected beyond those documented donations.
Meanwhile, majority ownership and control of Chivo has been transferred to a private operator, while the IMF continues to call for reduced state involvement in Bitcoin-related activities.
For crypto traders, the interesting part is how this affects the ongoing relationship between El Salvador, Bitcoin and international financial institutions.
$BTC | $AR | $STX
#Bitcoin #ElSalvador #CryptoNews #IMF #BTC
🇸🇻 IMF approves about $138M for El Salvador — with a Bitcoin-related waiver.
The IMF completed its second and third reviews under El Salvador’s Extended Fund Facility, allowing an immediate disbursement of about $138M. The Board also granted waivers after certain performance criteria were not met, including the Bitcoin accumulation condition.
One important detail: the IMF says documentation showed that Bitcoin accumulated since the first review came from private donations, with no public resources used for that accumulation. It also says no further Bitcoin accumulation is expected beyond those documented donations.
Meanwhile, majority ownership and control of Chivo has been transferred to a private operator, while the IMF continues to call for reduced state involvement in Bitcoin-related activities.
For crypto traders, the interesting part is how this affects the ongoing relationship between El Salvador, Bitcoin and international financial institutions.
$BTC | $AR | $STX
#Bitcoin #ElSalvador #CryptoNews #IMF #BTC
