After more than three years of negotiations, the International Monetary Fund (IMF) and the government of El Salvador reached an agreement to grant the Central American country a loan for USD 1.4 billion, within the framework of the Extended IMF Facility (SAF).
According to reports the IMF On its official site, the program aims to strengthen El Salvador’s fiscal and external sustainability, “through the implementation of an ambitious and growth-friendly fiscal consolidation plan.” To this end, they plan to carry out actions that aim to improve the governance, transparency and resilience of Nayib Bukele’s government. in order to boost the country’s growth potential.
In its statement, the IMF cited some of the obstacles that had delayed the signing of the agreement, among which the declaration of Bitcoin (BTC) as legal tender in El Salvador stands out. On this issue, the organization assures that both parties “are mitigating the risks related to Bitcoin.”
Consequently, the Bukele government is committed to making acceptance of bitcoin by the private sector is voluntary and public sector participation in activities related to digital currency will be limited.
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