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This position contrasts sharply with President Nayib Bukele’s push to expand the country’s Bitcoin portfolio.
The announcement came as part of a review under the Extended Fund Facility agreement. The IMF confirmed a staff-level deal had been reached with El Salvador.
In the end of 2024 , El Salvador agreed to scale back its bitcoin activity. In return, the IMF offered a 40-month financing deal, including a $1.4 billion loan.
Other global lenders, like the World Bank, may add further support. Together, the total financing package could reach $3.5 billion.
The IMF’s latest stance signals continued pressure on El Salvador to follow traditional financial norms. This comes even as Bukele remains a vocal proponent of bitcoin adoption nationwide.
The post IMF Urges El Salvador to Freeze Bitcoin Holdings Amid Loan Deal appeared first on Coindoo.
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