El Salvador and the International Monetary Fund have reached an agreement whereby the country will limit its domestic Bitcoin-related activities in exchange for financial assistance.
The Extended Fund Facility provided by the IMF will last for 40 months and includes a $1.4 billion loan to support El Salvador's reform efforts and address its payments imbalances.
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In addition, El Salvador is expected to receive additional financial assistance from organizations such as the World Bank and the Inter-American Development Bank, bringing the total financial package to more than $3.5 billion.
The IMF stated that its program aims to address El Salvador's economic and structural challenges and promote stability and inclusive growth.