The International Monetary Fund (IMF) announced a staff-level agreement with El Salvador on the combined second and third reviews under the Extended Fund Facility arrangement. If approved by the IMF Executive Board, El Salvador will receive about $140 million (SDR 101.96 million). On the Bitcoin front, the IMF confirmed that the Chivo wallet has largely exited public participation, with majority ownership and operational control transferred to private operators. Bitcoin holdings since the first review were verified to come from private donations, not public resources. El Salvador has committed not to accumulate any additional Bitcoin beyond already recorded private donations. The two sides also reached an understanding on modernizing the legal, regulatory, and supervisory framework for digital assets and strengthening governance and risk management for public sector crypto holdings.
The International Monetary Fund (IMF) said it has reached a staff-level agreement with El Salvador’s authorities on the combined second and third reviews under the Extended Fund Facility (EFF) arrangement. If the IMF Executive Board signs off, the country is set to get about $140 million (SDR 101.96 million).
Bitcoin-Related Commitments
The IMF also spelled out several facts about Bitcoin. The Chivo electronic wallet has mostly stepped away from public involvement, with majority ownership and operational control handed to private operators. Bitcoin accumulated since the first review was confirmed to have come from private donations, and no public funds were used. El Salvador has also agreed not to buy any more Bitcoin beyond the private donations already on record.
Digital Asset Framework
The two sides also came to an understanding on updating the legal, regulatory, and supervisory framework for digital assets. And on tightening governance and risk management arrangements for public sector holdings of crypto assets.
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