The International Monetary Fund (IMF) has agreed to provide El Salvador with $120 million as part of a $1.4 billion loan agreement. The deal includes conditions for El Salvador to limit government involvement in Bitcoin and to end its association with the Chivo wallet by July. The IMF emphasized the need to maintain the amount of Bitcoin in government-owned wallets. Despite IMF's advice to stop accumulating Bitcoin, El Salvador's President Nayib Bukele plans to continue acquiring one BTC daily. The country has recently purchased more Bitcoin, increasing its reserve to 6,190.18 BTC. Rodrigo Valdes from the IMF confirmed El Salvador's compliance with performance criteria. Anndy Lian, a blockchain adviser, suggested purchasing Bitcoin through non-government entities to meet technical compliance. The IMF's approval is pending, and the situation raises questions about El Salvador's Bitcoin strategy amidst the loan agreement. Read more AI-generated news on: https://app.chaingpt.org/news

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