IMF says El Salvador used private donations for latest Bitcoin buys as funding deal advances
On the government's Chivo e-wallet, the IMF said majority ownership and operational control have been transferred to a private operator.
El Salvador’s latest Bitcoin accumulation was funded by private donations, not public money, the IMF said Thursday after reviewing documentation provided by the Salvadoran government. The IMF also said no further Bitcoin accumulation beyond those documented donations is expected.
The finding comes alongside a staff-level agreement on the combined second and third reviews of El Salvador’s 40-month Extended Fund Facility arrangement, which could release around $140 million following approval by the IMF Executive Board.
The IMF said the country’s economy has outperformed expectations and is projected to grow 4.5% in 2026, supported by investment, private consumption, remittances, tourism and capital inflows.
Under the IMF’s EFF, approved in February 2025, El Salvador received an initial $113 million disbursement and a further $118 million after its first review in June 2025.
Macro, rates, and crypto—what moved markets and what matters next.
Daily. Free. Join 34,000+ readers across crypto, finance, and policy.
The $1.4 billion IMF agreement requires El Salvador to halt new Bitcoin purchases and mining by public entities, with a zero ceiling imposed under the program.
The agreement also covers the unwinding of public participation in the Chivo e-wallet. Majority ownership and operational control have been transferred to a private operator, while the government retains a minority stake and custody of customer assets.
Despite the policy changes, El Salvador’s Bitcoin holdings continue to rise. The government now holds 7,764 BTC worth about $627 million, according to the latest update.