IMF Praises El Salvador — But Still Tries To Scale Back Its Bitcoin Project

What happened

In a statement Friday, the IMF said that it had approved a $139 million disbursement to the Central American nation while also trying to “reduce the state’s involvement in Bitcoin-related activities.” Bitcoin Magazine IMF Praises El Salvador — But Still Tries To Scale Back Its Bitcoin Project The International Monetary Fund approved a $139 million disbursement to El Salvador but still wants it to scale back its Bitcoin project.

Bitcoin Magazine IMF Praises El Salvador — But Still Tries To Scale Back Its Bitcoin Project The International Monetary Fund has praised El Salvador for improving its economy — but scolded it at the same time for its ongoing Bitcoin experiment. El Salvador in 2021 made Bitcoin legal tender, much to the ire of the IMF and other major institutions. The Latin American country was at the time negotiating a development loan with the agency.