The International Monetary Fund (IMF) published a report on Tuesday about the ongoing loan agreement with El Salvador, claiming that the Central American country did not buy any new Bitcoin (Btc) from the signing of the agreement in December 2024.
El Salvador’s CHIVO BITCOIN WALLET “Its Bitcoin reserves are not adjusted to show changes to clients’ deposits,” the Report Read. Chivo does not sell its BTC, leading to differences of “minor” that have emerged as if the public sector of El Salvador accumulated BTC.
A letter of intent signed by the president of the central bank of El Salvador, Douglas Pablo Rodríguez Fuentes, and financial minister, Jerson Rogelio Posada Molina, contained within the IMF report, confirmed the details:
“In accordance with the promises under the program, the stock of bitcoins held by the public sector remains unchanged, and we take steps to reduce fiscal risks by reducing public sector role in the Chivo wallet and refaming the Bitcoin project.”
The cointelegraph reached the Bitcoin office of El Salvador and the National Commission of Digital Assets but did not receive a response through the time of publication.
Related: The Minister of Crypto of Pakistan, the President of El Salvador discussed the approach to Bitcoin
El Salvador hit the IMF loan deal
El Salvador’s government signed a $ 1.4 billion deals on loan The IMF was included in December 2024 and it was up to me to scale its involvement in Bitcoin under the loan offer.
In January 2025, the legislature of El Salvador Bitcoin’s laws have been changed.
Despite this, El Salvador’s Bitcoin office continues to claim that the government continues to accumulate BTC, flying in front of the IMF’s deal.
It reached a Crescendo in March when the IMF sent another notice to El Salvador demanded to stop accumulating BTC Under the terms of service for the loan agreement.
Salvadoran President Nayib Buklele reply with disobediencetelling the IMF that the country will continue to accumulate the BTC daily.
“No, it doesn’t stop. If it doesn’t stop when the world is ostracizing us and most ‘bitcoiners’ left us, it won’t stop now, and it won’t stop in the future,” Buklee wrote on a March 4 x x Post.
The IMF report sent shockwaves through the Bitcoin community due to El Salvador’s position as one of the leading countries to embrace a national bitcoin reserve strategic and Bukele’s relentless stance in stacking the supply-capped digital currency.
Magazine: El Salvador’s national leader became orange-selected Argentina
