IMF approves El Salvador to continue receiving $120 million loan

According to ChainCatcher, the International Monetary Fund (IMF) has approved El Salvador's eligibility to continue receiving loans, confirming that the country has performed strongly in implementing its economic reform plan. Despite El Salvador's ongoing purchases of Bitcoin, the IMF will still disburse the next loan of $120 million. Luis Cubeddu, Deputy Director of the IMF's Western Hemisphere Department, and Ivan Torres, head of the IMF mission in El Salvador, stated: "Most of the project targets set for the first review were easily met, and the implementation of structural benchmarks is also progressing well."