IMF: Currently, El Salvador's increase in Bitcoin holdings has not defaulted, and the loan agreement is set to take effect on April 30

2025-03-09 11:24:44

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ChainCatcher news, according to Reuters, the International Monetary Fund (IMF) stated that at this stage, El Salvador's purchase of Bitcoin does not violate the terms of the loan agreement signed earlier, but discussions on this matter will be held.

It is reported that El Salvador reached a $1.4 billion loan agreement with the International Monetary Fund in January this year, which required the country to abandon the adoption of Bitcoin and cancel Bitcoin's legal tender status. However, El Salvador's President Nayib Bukele stated that despite the IMF's requests, the El Salvadoran government will not stop purchasing Bitcoin.

Bitcoin analyst John Dennehy revealed that the agreement between El Salvador and the IMF was approved on January 29 and published in the official gazette the next day, but the effective date is April 30.

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