The IMF just approved a fat disbursement of SDR 101.96 million which equals $138 million for El Salvador after handing out a waiver for missing that Bitcoin hoarding target fr.
Bitcoin Stack Rules Got Updated 🔮
Their Executive Board wrapped up the second and third reviews of the Extended Fund Facility program on October 1. El Salvador’s economy crushed expectations thanks to better security vibes and boosted investor confidence rn. They made solid progress shrinking fiscal imbalances while reserve buffers got stronger. Still some program conditions slipped through the cracks including the whole Bitcoin accumulation thing. The IMF gave waivers citing corrective measures plus fresh promises from the Salvadoran crew. Under the latest setup El Salvador isn’t piling up any more Bitcoin beyond those documented donations. The team is dialing back their BTC involvement overall with plans to boost transparency on public crypto holdings and tighten rules for crypto asset firms.
Chivo Wallet Going Private Now 🖤
Chivo the government digital wallet is shifting toward private control as majority ownership moves to a private operator. Any leftover public exposure will get unwound eventually. El Salvador locked in a 40 month IMF program back in February 2025 for total access around $1.4 billion. This latest payout forms part of that bigger deal. Further reforms are still needed to beef up public finances rebuild external reserves and strengthen financial sector resilience. Pension and civil service fixes are moving ahead after some earlier delays too. Stronger governance and transparency got called out as key especially in public sector reporting beneficial ownership disclosures asset declarations and anti money laundering rules. These steps matter big time for keeping economic stability on lock.
Just another echo from the void by iconofsin.eth 💖
