El Salvador violates IMF regulations by purchasing Bitcoin after loan review

2025-05-28 13:18:36

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ChainCatcher news, according to Decrypt, despite the International Monetary Fund (IMF) requesting El Salvador to freeze government cryptocurrency purchases under a $1.4 billion loan agreement, the country still purchased an additional 8 bitcoins on Tuesday.

Previously, IMF staff reached an agreement with El Salvador authorities on the first review of the 40-month Extended Fund Facility (EFF), praising the progress made in economic reforms and macroeconomic stability, while also warning to ensure that the total amount of bitcoins held in the government wallet remains unchanged, and reiterated the deadline to gradually stop public sector participation in the state-owned Chivo wallet before July.

According to Arkham Intelligence data, El Salvador currently holds nearly 6,200 bitcoins, worth over $674 million.

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