IMF Restricts El Salvador’s Bitcoin Purchases, Sparking Contradiction with Bukele’s Ambitions

The International Monetary Fund (IMF) has announced a new restriction on El Salvador’s bitcoin holdings. The IMF aims to prevent the government from expanding its investment in cryptocurrency. This move is in direct conflict with President Nayib Bukele’s ongoing efforts to increase the country’s Bitcoin reserves. The latest update comes as the IMF completes its initial review of the Extended Fund Facility (EFF) deal with El Salvador, which includes a loan worth $1.4 billion over 40 months.