The International Monetary Fund (IMF) has agreed to pay $120 million to El Salvador following an initial review of its $1.4 billion loan program.
However, the agreement comes with conditions: the government must limit Bitcoin purchases and cease its involvement in its wallet Chivo by the end of July.
In a May 27 statement, the IMF stressed that El Salvador must ensure that its Bitcoin holdings remain unchanged in state wallets.
The payment, pending final approval by the IMF board, is part of a 40-month financing arrangement established in December.