El Salvador expects to reach a $1.3 billion loan agreement with the International Monetary Fund (IMF) within two to three weeks in return for adjustments to its use of bitcoin as legal tender and reductions in government deficits, the Financial Times reported on Monday.
An IMF mission has arrived in San Salvador to finalize the agreement with President Nayib Bukele’s government, the report said, citing two people close to the talks.
The deal was also expected to unlock an additional $1 billion in lending from the World Bank and another $1 billion from the Inter-American Development Bank over the coming years, the report added.
