The International Monetary Fund announced Tuesday that it will work to “ensure” that the amount of bitcoin held by El Salvador’s government does not change — a stance that runs counter to President Nayib Bukele’s continued advocacy for increasing the nation’s bitcoin holdings.
The latest statement from the IMF comes from its announcement that the first review of the Extended Fund Facility deal with El Salvador has reached a staff-level agreement from both parties.
Last December, El Salvador and the IMF reached their first agreement for the country to limit bitcoin-related activities in exchange for a 40-month financing package, which entails a $1.4 billion loan. Other institutions, including the World Bank, may also provide additional financial support, bringing the total package to roughly $3.5 billion.
The country quickly moved to advance the deal, with its Congress approving amendments to incorporate the IMF agreements into its Bitcoin Law, including making the acceptance of bitcoin payments voluntary for the private sector.
The IMF Executive Board also greenlit the financing deal in February, under which El Salvador would receive its disbursement of $120 million upon separate approval by the board.
The fund program aims to address El Salvador’s macroeconomic and structural challenges. The IMF views that the country’s bitcoin reserves pose potential risks that “have not yet materialized,” and stated in its February statement that it would confine government engagement in bitcoin-related activities and purchases.
Meanwhile, Bukele, a prominent proponent of bitcoin, pledged to further grow El Salvador’s bitcoin stash even after the IMF deal was approved.
“No, it’s not stopping,” Bukele wrote in an X post in March. “If it didn’t stop when the world ostracized us and most ‘bitcoiners’ abandoned us, it won’t stop now, and it won’t stop in the future.”
Just last week, Bukele posted on the social media platform that the country’s bitcoin holdings saw over $357 million in unrealized profit.
However, Bukele reposted the IMF’s announcement on Tuesday without addressing the section of the article that stated the IMF’s plan to restrict further purchases of bitcoin, leaving uncertainty over the future of the nation’s bitcoin accumulation strategy.
The Block has reached out to the IMF and Bukele for further comment on the matter.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
