IMF Closes Door on El Salvador's Bitcoin Reserve Growth
The International Monetary Fund (IMF) has announced that El Salvador's Bitcoin reserve growth will soon come to an end under its financial aid arrangement. The country, which joined the IMF's 40-month Extended Fund Facility (EFF) in February 2025, will receive approximately $140 million more in financing if the Executive Board approves.
The IMF stated that future acquisitions of El Salvador's Bitcoin holdings are not expected beyond those verified by private donation. This decision comes after the IMF staff achieved a staff-level agreement on the second and third reviews of El Salvador's EFF arrangement.
El Salvador has been closely monitored since joining the program, which offers approximately $1.4 billion in funding. The country's Bitcoin policy has been under scrutiny, with the IMF previously stating that the nation's Bitcoin reserve did not change. However, coins added to the Strategic Bitcoin Reserve Fund were found to be part of other state-held wallets.
According to the IMF, documentation has been provided verifying that Bitcoin accumulation since the first review reflects private donations and no public resources were used. The IMF also stated that there will be no further increase in the amount of Bitcoin being accumulated beyond those recorded with donations.