El Salvador Defies IMF Again With Fresh Bitcoin Purchase Following Loan Review

The IMF urged a halt to crypto accumulation as part of $1.4 billion program. El Salvador responded by buying more.
El Salvador added eight more Bitcoin to its reserve despite IMF warnings
An IMF agreement struck on Tuesday included provisions to curb crypto holdings
It also wants El Salvador to wind down its involvement in a state-run crypto wallet
El Salvador purchased eight additional bitcoins on Tuesday despite the International Monetary Fund (IMF) reiterating its push for the country to freeze government crypto acquisitions under the terms of a $1.4 billion loan deal.
The new bitcoin acquisition, announced by El Salvador’s Bitcoin Office, came shortly after IMF staff and El Salvadoran authorities reached a staff-level agreement on the first review of the 40-month Extended Fund Facility (EFF). The review, tied to economic reforms, praised El Salvador for meeting most targets and improving macroeconomic stability.
President Bukele, who has made Bitcoin central to his global image, has mocked suggestions that the policy would end.
Recent legal reforms stripped Bitcoin of mandatory legal tender status but retained it as an optional currency, satisfying IMF conditions while preserving Bukele's narrative.
Beyond the $1.4 billion IMF package, the broader agreement is expected to unlock another $2 billion in development bank financing and support El Salvador’s efforts to manage a public debt load that reached 85% of the country’s GDP last year.

https://decrypt.co/322374/el-salvador-defies-imf-again-fresh-bitcoin-purchase