IMF Confirms No Public Funds Used for El Salvador's Bitcoin Purchases
The International Monetary Fund (IMF) has confirmed that no public money was used to buy Bitcoin for El Salvador's new digital wallet, Chivo. This announcement comes as part of changes to the government's involvement in Bitcoin and efforts to improve transparency around the country's BTC holdings.
According to the IMF, majority ownership and operational control of Chivo have been transferred to a private operator, while the government has kept a minority stake and responsibility for holding customer assets. The government provided documentation showing that the BTC acquired since the first review of its IMF program came from private donations, with no public funds used for the purchases.
The IMF staff and Salvadoran authorities have reached a staff-level agreement that includes measures to strengthen the governance and risk management of crypto assets held by the public sector. The country's economy is expected to grow more than initially forecasted in 2025, with real GDP growth reaching 4.5% this year.