IMF Approves $138 Million Disbursement to El Salvador Despite Bitcoin Concerns

El Salvador has received $138 million from the International Monetary Fund (IMF) as part of its 40-month Extended Fund Facility (EFF) program. The IMF Executive Board completed the second and third reviews of the program and approved the immediate disbursement. Despite not meeting some of the program's performance criteria, including a ban on additional Bitcoin purchases, the IMF granted a waiver due to 'strong corrective actions' and new policy commitments.

The IMF noted that El Salvador will continue to scale back public-sector Bitcoin-related activity, strengthen virtual-asset regulation and governance, and improve transparency around public-sector virtual-asset holdings. No additional Bitcoin purchases are planned beyond recorded donations, the IMF said.

The IMF also reviewed El Salvador's acquisition of an additional 1,090 Bitcoin in November 2025, worth around $100 million at the time. The review found that the Bitcoin had been obtained through private donations and that no government funds were used. The IMF added that operational control and majority ownership of the Chivo wallet had been transferred to a private operator, while the government retained a minority stake and custodial responsibility.