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El Salvador required to remove mandatory Bitcoin acceptance to get $1.3 billion IMF loan – FT – TON BOT

El Salvador required to remove mandatory Bitcoin acceptance to get $1.3 billion IMF loan – FT

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El Salvador is finalizing a $1.3 billion IMF loan agreement, adjusting its treatment of Bitcoin. The deal may remove the requirement for businesses to accept Bitcoin, making adoption voluntary. The IMF mission in San Salvador aims to secure international financing and unlock lending from the World Bank and Inter-American Development Bank. President Bukele plans to reduce budget deficits, pass anti-corruption laws, and increase reserves. The government aims to attract foreign investment and shift perceptions of economic management. Despite efforts to promote Bitcoin, many Salvadorans still rely on the US dollar. The voluntary acceptance of Bitcoin acknowledges limited domestic use. The potential creation of a US strategic Bitcoin reserve may influence the IMF’s response. Bukele plans to sell gold to favor Bitcoin.

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