The International Monetary Fund (IMF) on Tuesday published a report about its ongoing loan agreement with Al Salvador, claiming that the Central American country has not bought any new bitcoin (BTC) since the Central American country signed the agreement in December 2024.
Al Salvador’s Chivo Bitcoin Wallet “does not adjust its bitcoin reserves to reflect changes in bitcoin deposits of customers,” Report Reading. Chivo does not sell its BTC, leading to “minor” discrepancies, which seems as if the public sector of Al Salvador was collecting BTC.
A letter signed by a letter signed by Douglas Pablo Rodriguez Futentees, and Finance Minister, Jerson Rosalio Posada Molina, a letter signed within the IMF report confirmed the details:
“The stock of bitcoin organized by the public sector remains unchanged in accordance with the commitments under the program, and we are taking steps to reduce fiscal risks by reducing the public sector role in Chivo Wallet and re -introducing the bitcoin project.”
Cointelegraph Al Salvador’s bitcoin office and Digital Assets reached the National Commission, but did not receive any response until the time of publication.
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Al Salvador makes a loan deal with IMF
The government of Al Salvador signed a loan deal of $ 1.4 billion with the IMF in December 2024 and agreed to return its participation in bitcoin under a loan proposal.
In January 2025, the Legislature of Al Salvador amended the bitcoin laws, allowing BTC as a legal tender voluntary, while also agreed to stop the BTC from depositing the taxpayer’s money.
Despite this, the Bitcoin office of Al Salvador continued to claim that the government was constantly depositing the BTC, flying in front of the IMF deal.
This reached a crastendo in March when the IMF sent another notice to L Salvador, asking to prevent BTC from depositing BTC under the terms of service for a loan agreement.
Salvadoran President Naib Bukle replied with disobedience, told the IMF that the country would continue to deposit BTC daily.
Bukele wrote in March 4 in March 4, “No, it is not stopping. If it does not stop when the world provoked us and the most ‘bitcoiners’ left us, it will not stop now, and it would not stop in the future,” Bukele wrote in March 4 on March 4. Post,
The IMF report sent shockwaves through the Bitcoin community due to the position of Al Salvador, as the national strategic bitcoin reserve and the vocal stance of the bouquel were one of the leading countries to embrace the vocal stance on the supply-captive digital currency.
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