Is El Salvador Scaling Back Its Bitcoin Ambitions With IMF Deal?

Quick Summary:

El Salvador, the first country to make Bitcoin a legal tender has finally reached a deal with the International Monetary Fund (IMF) for a $1.4 billion loan.

It comes at a condition of scaling down its “Bitcoin Project”.

As a result, the Latin American nation has also agreed to adopt measures that will improve the country’s debt-to-GDP ratio along with improving its balance.

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Article Details

Author / Journalist: Bhushan Akolkar

Category: Crypto

Markets: IndiaEl Salvador

Topics: El Salvador President 24/7 Cryptocurrency News Nayib Bukele El Salvador Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-19 @ 09:50:13 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 444 words

Reading Time: 3 minutes read

Sentences: 40 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 24547357

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News Last Updated: 8 hours ago

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