IMF’s $120M Deal Tests El Salvador’s Bitcoin Commitment

A new IMF agreement grants El Salvador $120 million but imposes strict limits on Bitcoin activity, including a Chivo wallet phase-out.

The move reflects the IMF’s persistent skepticism of the country’s crypto adoption, first flagged in March.

President Nayib Bukele, undeterred, continues accumulating Bitcoin daily, setting up a potential standoff with international creditors.

The payment hinges on IMF executive board approval, with further negotiations likely.