Crypto
IMF Confirms El Salvador Bitcoin Growth Funded by Donations, Unlocks $140M
The International Monetary Fund (IMF) has reached a staff-level agreement with El Salvador covering the second and third reviews of its $1.4 billion lending
Key takeaways
- El Salvador's Bitcoin reserve growth since the first review came entirely from private donations with no public funds used.
- Approval of the combined reviews would release about $140 million to El Salvador under its Extended Fund Facility.
- Majority ownership and daily control of the Chivo e-wallet has shifted to a private operator.
- The IMF projects 4.5% real GDP growth for El Salvador in 2026.
The International Monetary Fund (IMF) has reached a staff-level agreement with El Salvador covering the second and third reviews of its $1.4 billion lending program, potentially unlocking $140 million. The IMF verified that all Bitcoin added to El Salvador's state reserves since the first review in June 2025 came from private donations rather than public funds. Additionally, the state has transferred majority ownership and daily management of the Chivo e-wallet to a private operator, retaining only a minor stake.
It separates El Salvador's public fiscal risk from its volatile cryptocurrency holdings.
In their words
“Documentation has been provided verifying that Bitcoin accumulation since the first review reflects private donations and that no public resources were used”
By the numbers
- $140M
- Funding to be unlocked upon IMF Executive Board approval
- $1.4B
- Total access under the 40-month EFF program
- 360%
- El Salvador's IMF quota represented by the EFF
- 4.5%
- IMF projected real GDP growth for 2026
- 3.7%
- Projected non-financial public sector primary surplus by 2027
How it unfolded
- El Salvador enters 40-month IMF EFF program
- First IMF program review completed
- The Bitcoin Office posts daily BTC purchase proof
- IMF confirms donation-funded growth in staff-level agreement
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Common questions
- What happened with El Salvador?
- El Salvador's Bitcoin reserve growth since the first review came entirely from private donations with no public funds used.
- Where can I read the original report?
- Read the full report at Cryptonomist.
