El Salvador adapts policies to the IMF, but does not abandon Bitcoin strategy

Bitcoin remains legal tender in El Salvador, with its acceptance by the private sector being voluntary.

The first country to make bitcoin legal tender, El Salvador, is in the process of reviewing the initiative. According to an announcement from the International Monetary Fund (IMF), the country will change its approach to bitcoin.

The technical agreement between the IMF and El Salvador establishes a financing program of approximately US$1.4 billion to support economic reforms and strengthen the country's fiscal and external sustainability.

The main measures include cuts in public spending, improvements in fiscal transparency, combating corruption and increasing international reserves.