IMF Releases $138 Million to El Salvador After Granting Bitcoin Waivers

The International Monetary Fund has approved the immediate release of about $138 million to El Salvador under its $1.4 billion financing program. The Executive Board completed the second and third reviews of the 40-month Extended Fund Facility on Thursday. Some performance criteria were missed, including targets tied to Bitcoin accumulation, but the Fund granted waivers because of strong corrective measures and renewed commitments.

Progress on Reforms and the Chivo Wallet

The IMF pointed to advances in financial sector reforms, fiscal transparency and anti-money laundering rules. It also highlighted the transfer of majority ownership and operational control of the government’s Chivo Bitcoin wallet to a private operator, with the state keeping a minority stake and custodial duties. The Fund said efforts will continue to cut the state’s role in Bitcoin activities, tighten crypto regulation and improve transparency on public holdings, adding that no further accumulation is planned beyond documented donations.

How El Salvador’s Bitcoin Holdings Grew

Questions arose after the country said in November 2025 that it had acquired 1,090 BTC, worth $100 million, raising doubts about compliance with the program. The IMF later said documents supplied by Salvadoran authorities confirmed that the increase came from private donations, not government-funded purchases.