El Salvador Missed IMF Bitcoin Target but Secured $138 Million Waiver
IMF Grants Waiver to El Salvador
Cointelegraph reported the development in a post on X, noting that El Salvador did not meet the IMF's Bitcoin target but received approval for a waiver from the fund.
The waiver allowed the country to proceed despite falling short of the specified target. Cointelegraph reported that the outcome was accompanied by $138 million in funding.
The source did not provide further details on the precise Bitcoin target El Salvador missed, the amount of Bitcoin involved or the specific conditions attached to the waiver.
Bitcoin Remains Part of IMF Agreement
El Salvador's Bitcoin policy has been a focus of its engagement with the IMF, making compliance with related commitments part of the broader framework surrounding the country's economic program.
The reported waiver indicates that missing the Bitcoin-related target did not prevent the IMF from approving the associated funding. However, the information provided by Cointelegraph does not establish whether the waiver changes any other commitments under the agreement.
No additional details were given in the source post regarding the IMF's reasoning for granting the waiver or whether El Salvador must take further steps to address the missed target.
$138 Million Funding Approved
The $138 million figure represents the funding El Salvador received after the IMF signed off on the waiver, according to Cointelegraph.
The report did not specify the timing of the payment, its precise allocation or whether additional funding remains contingent on future targets. It also did not indicate whether the missed Bitcoin target would affect subsequent reviews of the country's agreement with the IMF.
For now, the reported outcome leaves El Salvador with IMF approval for $138 million despite the country falling short of the Bitcoin-related target identified in its program.
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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