IMF Warns El Salvador’s Bitcoin Reserve Buying Will End Soon

The International Monetary Fund (IMF) has made it clear that El Salvador’s Bitcoin stockpile growth is coming to an end under the nation’s financial aid arrangement. Future acquisitions of the government’s Bitcoin holdings are not expected beyond those that are verified by private donation, the Fund said.

This update comes on the heels of the IMF staff achieving staff-level agreement on the second and third reviews of El Salvador’s Extended Fund Facility (EFF). The country will benefit from approximately $140 million more in financing, if the Executive Board approves.

IMF Confirms Donations Fueled El Salvador’s Recent Bitcoin Reserve Growth

In February 2025, El Salvador joined the IMF 40-month EFF arrangement. The program offers approximately $1.4 billion in funding. The country’s Bitcoin policy has been closely monitored since then.

The IMF previously said the nation’s Bitcoin reserve did not change. Coins that turned up in the Strategic Bitcoin Reserve Fund were part of other wallets held by the state.

The recently reviewed Bitcoin was the last one following that evaluation. The IMF said it provided records showing where those assets came from.

“Documentation has been provided verifying that Bitcoin accumulation since the first review reflects private donations and that no public resources were used,” the statement read.

The IMF also stated that there will be no further increase in the amount of bitcoin being accumulated beyond those that have been recorded with the donations.

Crypto Oversight Tightens As Chivo Moves To Private Control

The IMF and El Salvador also reached an agreement on additional measures to enhance the supervision of digital assets, in addition to Bitcoin. Among the measures are the tightening of the legal and regulatory environment for the crypto industry. Authorities will also enhance public sector digital asset supervision and risk management.

Changes have also been made at Chivo e-wallet. Majority ownership and local management are now in the hands of a private operator. The government has a minority stake. It also remains to protect customer assets as the aim of increasing transparency through state-controlled Bitcoin wallets is still being pushed for.

The IMF also painted a rosy economic picture for the country. Mission Chief Rodrigo Valdés Torres forecasted a real GDP growth of 4.5% for 2026. Strong inflows of remittances and tourist dollars, combined with increased investment and domestic consumption, are backing the forecast. The non-financial public sector primary surplus is projected to rise from 2.9% of GDP this year to 3.7% in 2027, as well, which is the Fund’s expectation.

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