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BTC IMF confirms that El Salvador did not use public funds to purchase Bitcoin
The International Monetary Fund (IMF) confirmed after completing its first review of its loan program in June 2025 that El Salvador did not use any government funds in the process of accumulating Bitcoin (BTC).
This clarification is crucial because despite the commitment of the Salvadoran government in the IMF agreement not to expand public sector Bitcoin holdings, its reserves continue to grow. The statement was intended to respond to questions about the country's compliance: In November 2025, El Salvador announced that it had acquired 1,090 bitcoins worth approximately US$100 million, triggering discussions about whether it would comply with the terms of the US$1.4 billion IMF project.
The IMF said in a statement released on Thursday that documents provided by Salvadoran authorities confirmed that the accumulation of these bitcoins came from private donations. The announcement did not disclose the identity of the donor or the specific amount of bitcoins received privately. In addition, the IMF added that it does not expect further accumulation of Bitcoin beyond the recorded donations.
The IMF also pointed out that most ownership and operational control of the Chivo wallet has been transferred to private operators, while the government retains only a minority stake and custody responsibilities.
US$140 million faces release
The disclosure is part of a broader staff-level agreement that covers the second and third combined reviews of El Salvador's 40-month Extended Finance Facility (EFF) project. IMF staff and El Salvador authorities have reached a staff-level consensus on the arrangement.
If approved by the IMF Executive Board, El Salvador will receive approximately US$140 million in funding. The potential $140 million allocation is not a new loan, but the next payment under an existing plan, to be released after El Salvador achieves economic goals set by the IMF.
As of September 4, 2026, El Salvador held 7,764 BTC items, with a current value of approximately US$628.3 million. The country's total cost of holding these bitcoins is approximately $388.9 million, so it has considerable unrealized profits.
From a more macro economic situation, economic activity performed better than expected, and fiscal and external imbalances are being resolved in accordance with project commitments. The IMF predicts El Salvador's real GDP growth rate of 4.5% in 2026, a further increase from its strong performance in 2025 (a growth rate of 3.9% exceeded earlier forecasts).
In addition to the US$140 million directly received funding, the extensive EFF project aims to catalyze more than US$3.5 billion in additional multilateral support.
