The International Monetary Fund confirmed in a new report that El Salvador has not purchased Bitcoin since December 2024, contradicting President Nayib Bukele’s assertions of ongoing acquisitions. This finding underscores compliance with fiscal reforms tied to a $1.4 billion IMF loan.
The July 15 report revealed public-sector Bitcoin holdings remained unchanged after loan approval, highlighting transparency discrepancies in the nation’s crypto strategy. As part of IMF-driven reforms, El Salvador committed to halting state Bitcoin purchases and announced plans to privatize the Chivo cryptocurrency wallet.
Authorities aim to strengthen accountability through privatization of the Chivo platform and establishment of the public Bitcoin trust Fidebitcoin. The IMF assessment emphasizes persistent trust challenges surrounding El Salvador’s fiscal governance and Bitcoin adoption approach despite these transparency measures.