The International Monetary Fund (IMF) has approved a $120 million loan to El Salvador, despite the country's continued accumulation of Bitcoin.
El Salvador's government, led by President Nayib Bukele, has defied IMF's conditions to halt further Bitcoin purchases, buying 8 more BTC worth approximately $869,640 recently.
The IMF's $1.4 billion loan package aims to stabilize El Salvador's economy, but the country must implement fiscal restructuring, bank liquidity enhancement, and civil service reforms.
Bukele remains committed to maintaining El Salvador's crypto identity, even as the IMF expresses concerns over Bitcoin's volatility risks.
The country's Bitcoin reserves now total 6,190.18 BTC, valued at nearly $673 million.
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