El Salvador to ‘confine’ its Bitcoin activities in $1.4bn loan deal with the IMF
The IMF said “potential risks” of El Salvador’s Bitcoin project will be “diminished significantly” A Bitcoin podcaster questioned the true cost of the IMF’s monetary assistance to El Salvador El Salvador will receive additional funding from other major banks in a financial package totaling over $3.5 billion El Salvador will receive a $1.4 billion loan from the International Monetary Fund (IMF) over the next 40 months as it “confines” its Bitcoin-related activities. The IMF is to loan the amount to the Central American country under the Extended Fund Facility (EFF) so it can support the government’s economic reforms. “The potential risks of the Bitcoin project will be diminished significantly in line with Fund policies,” the IMF said in a statement. The IMF said that acceptance of Bitcoin by the private sector will be made voluntary while engagement in “Bitcoin-related economic activitie...