IMF Confirms No Public Funds Used for El Salvador’s Latest Bitcoin Acquisitions
El Salvador has significantly scaled back public involvement in its Chivo e-wallet as part of broader adjustments to the government’s engagement with Bitcoin, according to the International Monetary Fund (IMF).
The IMF also indicated that efforts are underway to enhance transparency concerning the nation’s Bitcoin holdings across its various digital wallets.
Majority ownership and operational control of Chivo have been transferred to a private entity. The government, however, has retained a minority stake and the responsibility for safeguarding customer assets. Regarding Bitcoin accumulation, El Salvador has provided documentation demonstrating that all Bitcoin acquired since the initial review of its IMF program originated from private donations, with no public funds utilized for these purchases.
IMF staff and Salvadoran authorities have reached a staff-level agreement that encompasses measures to bolster governance and risk management for crypto assets held by the public sector. This agreement also includes plans to update the country’s legal, regulatory, and supervisory framework for digital assets.
The IMF stated that no further Bitcoin accumulation beyond the documented donations is anticipated. These developments coincide with El Salvador’s ongoing implementation of reforms under its Extended Fund Facility arrangement with the international financial institution.
Looking at the broader economic picture, Mr. Torres, the IMF Mission Chief for El Salvador, noted that the country’s economy expanded more than initially projected in 2025, with real GDP growth expected to reach 4.5% this year. This positive outlook is attributed to robust investment and consumer spending, alongside significant contributions from remittances, tourism, and capital inflows. The IMF also highlighted improvements in security and increased investor confidence as key factors supporting economic growth. The organization further commented that the government’s economic policies have been instrumental in strengthening fiscal and external buffers.
El Salvador made history as the first nation to adopt Bitcoin as legal tender, though its usage and accumulation have consistently faced opposition from the IMF. As part of negotiations for its $1.4 billion IMF program, the country committed to limiting public sector involvement in Bitcoin, making private sector acceptance voluntary, and scaling back certain aspects of its cryptocurrency framework.
The National Bitcoin Office’s reserve tracker currently indicates holdings of approximately 7,764 BTC. At the current price of $81,150 per Bitcoin, these holdings are valued at roughly $630 million.
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