In the latest development, IMF and El Salvador have reached a preliminary agreement with $1.4 billion extended loan program, but with conditions. IMF maintains its no more Bitcoin stance and made it clear condition to access extended fund facility of upto $3.5B. It has also asked El Salvodar govt. to discontinue chevo wallet access to public by July 1, 2025. Will Nayib Bukele give up his Bitcoin obsession? El Salvador Gets IMF Nod for $120M Payment, More under consideration In an official press release, the IMF agreed to pay El Salvador $120 million as part of a $1.4 billion extended loan program subject to approval. Reportedly, the financial agency reached a staff-level agreement with the Central American nation, following months of negotiations. Luis Cubeddu, Deputy Director of the Western Hemisphere Department, and Iván Luis Torres, Mission Chief for El Salvador, issued a statement that read, IMF staff have reached staff-level… Read More at Coingape.com

The post IMF Asks El Salvador to Purchase No More Bitcoin In Return for Upto $3.5B EFF appeared first on CoinGape.

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