IMF Requests El Salvador to Maintain Bitcoin Holdings, Approves Additional Financing

The International Monetary Fund (IMF) announced on the 27th that it had reached a staff-level agreement during the first review of the $1.4 billion lending program with El Salvador. The country is expected to receive about $120 million in additional financing. In a statement, the IMF explicitly required the Salvadoran government to maintain its current total holdings of the cryptocurrency Bitcoin (BTC). While the Bukele administration's Bitcoin policy restricts new purchases, it allows the maintenance of existing holdings. The review confirmed that key fiscal and foreign reserve targets were comfortably met. Improvements were noted in governance, transparency, and financial resilience...