IMF Confirms Private Donations Funded El Salvador's Recent Bitcoin Accumulation

The International Monetary Fund (IMF) has confirmed that El Salvador's recent Bitcoin accumulation was funded by private donations, not public funds.

In a statement, the IMF revealed that the government of El Salvador provided documentation showing that the BTC acquired since the first review of its IMF program came from private donations. As part of the agreement, the 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 IMF staff and Salvadoran authorities 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 4.5% this year, supported by investment, consumer spending, remittances, tourism, and capital inflows.