The IMF Urged El Salvador to Stop Further Bitcoin Accumulation

• The IMF approved a $139 million disbursement to El Salvador under a $1.4 billion financing program.
• The fund granted a waiver after the country failed to meet a condition to limit further bitcoin accumulation.
• The IMF urged President Nayib Bukele’s government not to increase the state’s bitcoin reserve and to continue scaling back its involvement in the crypto sector.

The International Monetary Fund (IMF) approved a $139 million disbursement to El Salvador after allowing the government to deviate from a condition on further bitcoin accumulation. Bloomberg reported.

The fund’s Executive Board completed the second and third reviews of the $1.4 billion Extended Fund Facility (EFF) program. This allowed El Salvador to receive the funds immediately.

The IMF noted that some performance criteria under the program were not met, including those related to bitcoin accumulation. However, the fund granted a waiver for this requirement, citing corrective actions taken by the government and updated commitments.

“No further accumulation of bitcoin, beyond documented donations, is envisaged,” the fund said.

El Salvador Must Reduce Its Involvement in the Crypto Sector

The IMF urged the government of El Salvador’s President Nayib Bukele to stop further bitcoin accumulation and to continue reducing the state’s presence in the cryptocurrency sphere.

The fund also said the government has transferred most ownership and control of the state-run Chivo crypto wallet to a private operator. Going forward, El Salvador is expected to fully end its involvement in the project.

In 2021, the country recognized bitcoin as legal tender alongside the US dollar. Despite limited use of cryptocurrency among the population, El Salvador’s government has built a sizable bitcoin reserve.

According to the IMF, economic activity in the country exceeded expectations thanks to improved security conditions and rising investor confidence. The fund forecasts El Salvador’s economy will grow by 4.5% in 2026 and by 4% in 2027, Bloomberg noted.

Journalists emphasized that the next phase of the IMF program will focus on strengthening fiscal sustainability, rebuilding external reserves, boosting the resilience of the financial sector, governance and transparency reforms, and supporting stronger and more inclusive economic growth.

As a reminder, in February 2026, we reported that El Salvador would launch the Bitcoin Diploma 2.0 educational program.

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