IMF Grants El Salvador $120 Million Loan, but Bitcoin Tensions Persist

The International Monetary Fund (IMF) has agreed to provide El Salvador with a $120 million loan as part of a larger $1.4 billion deal established in December 2023. However, the IMF’s conditions for disbursement include limiting the nation’s involvement with Bitcoin and related technologies. A key condition is El Salvador halting its use of Chivo, the state-managed Bitcoin wallet, by the end of July, and maintaining a stable total Bitcoin holdings across all government wallets.