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El Salvador to ‘confine’ its Bitcoin activities in $1.4bn loan deal with the IMF

  • El Salvador will receive a $1.4 billion loan from the IMF over the next 40 months as it 'confines' its Bitcoin-related activities.
  • The potential risks of the Bitcoin project will be diminished significantly in line with Fund policies, according to the IMF.
  • Taxes will only be paid in US dollars, and El Salvador's government participation in its Chivo crypto wallet will be gradually unwound.
  • El Salvador is expected to receive additional funding support from other major banks, totaling over $3.5 billion.

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