IMF Says El Salvador’s Bitcoin Growth Used No Public Funds

El Salvador’s Bitcoin holdings and the state-backed Chivo wallet have remained central to the International Monetary Fund’s assessment of the country’s fiscal risks since Bitcoin became legal tender in 2021. Establishing who financed subsequent additions is important because the government’s cryptocurrency policy must remain consistent with commitments under its IMF-supported financing program and limit taxpayers’ exposure to a volatile asset.

The IMF said all Bitcoin added after its June 2025 program review came from private donations, putting the amount of public money used at zero. El Salvador has also transferred most operational control of the Chivo wallet to private-sector operators, a step intended to reduce the government’s direct role and address concerns that continued Bitcoin accumulation could breach the terms of its financing arrangement.