๐๐น ๐ฆ๐ฎ๐น๐๐ฎ๐ฑ๐ผ๐ฟ ๐๐ผ ๐น๐ถ๐บ๐ถ๐ ๐ฏ๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ฎ๐ฐ๐๐ถ๐๐ถ๐๐ถ๐ฒ๐ ๐ณ๐ผ๐ฟ $1.4 ๐ฏ๐ถ๐น๐น๐ถ๐ผ๐ป ๐ฑ๐ฒ๐ฎ๐น ๐๐ถ๐๐ต ๐๐ ๐
El Salvador and the International Monetary Fund have reached an agreement for the country to limit domestic bitcoin-related activities in exchange for a financing package.
The IMFโs Extended Fund Facility, which is expected to extend over the course of 40 months, includes a $1.4 billion loan to back El Salvadorโs reform agenda and address the countryโs balance of payment needs.
With additional financial support expected from the World Bank, the Inter-American Development Bank, and other regional development banks, the total financing package is expected to be worth over $3.5 billion, the IMFย said.
โRecognizing El Salvadorโs pending macroeconomic and structural challenges, the IMF-supported program aims to strengthen fiscal and external stability and help create the conditions for stronger and more inclusive growth,โ IMF wrote in its announcement.