El Salvador Secures $1.4B IMF Loan Amid Bitcoin Policy Shift

The post El Salvador Secures $1.4B IMF Loan Amid Bitcoin Policy Shift appeared first on Coinpedia Fintech News

El Salvador has finalized a $1.4 billion loan agreement with the International Monetary Fund (IMF) after four years of negotiations, despite initial tensions over the nation’s adoption of Bitcoin as legal tender. The 40-month program aims to stabilize El Salvador’s economy, with commitments to enhance its primary balance and reduce its debt-to-GDP ratio. The IMF acknowledged progress in mitigating Bitcoin-related risks, signaling a shift in relations. This deal marks a significant step for the Central American nation in addressing its financial challenges while navigating its unique cryptocurrency policies.