IMF: El Salvador's current Bitcoin purchases do not constitute a breach of the agreement, and the loan agreement is set to take effect on April 30

The International Monetary Fund (IMF) has stated that El Salvador's purchase of Bitcoin currently does not violate the terms of the loan agreement signed earlier, but discussions on the matter will take place.

It is reported that in January, El Salvador reached a $1.4 billion loan agreement with the IMF, which required the country to abandon its Bitcoin adoption and revoke Bitcoin's status as legal tender. However, El Salvador's President Nayib Bukele has stated that despite the IMF's demands, the government will not stop purchasing Bitcoin.

Bitcoin analyst John Dennehy revealed that the agreement between El Salvador and the IMF was approved on January 29 and published in the official gazette the following day, but its effective date is April 30. (Reuters)