El Salvador receives IMF approval for a $120 million loan

ChainCatcher news, according to News.Bitcoin.com, the International Monetary Fund (IMF) has approved El Salvador's compliance with the conditions to continue receiving loans, confirming that the country has performed strongly in implementing its economic reform plan. Despite El Salvador's ongoing purchases of Bitcoin, the IMF will still disburse the next loan of $120 million.

IMF Western Hemisphere Department Deputy Director Luis Cubeddu and El Salvador mission chief Ivan Torres stated, "Most of the program targets set for the first review were easily met, and the implementation of structural benchmarks is also progressing well."