El Salvador has significantly reduced public participation in its Chivo e-wallet as part of changes to the government’s involvement in Bitcoin, according to the International Monetary Fund.
The IMF said efforts are also underway to improve transparency around the country’s BTC holdings across its different wallets.
No Public Funds Bought Bitcoin
Majority ownership and operational control of Chivo have been transferred to a private operator, while the government has kept a minority stake and responsibility for holding customer assets. On Bitcoin accumulation, El Salvador provided documentation showing that the BTC acquired since the first review of its IMF program came from private donations, and no public funds were used for the purchases.
The IMF staff and the Salvadoran authorities have reached a staff-level agreement that also includes measures to strengthen the governance and risk management of crypto assets held by the public sector, along with plans to update the country’s digital-asset legal, regulatory and supervisory framework.
The IMF said no additional Bitcoin accumulation beyond the documented donations is expected. The developments come as El Salvador continues implementing reforms under its Extended Fund Facility arrangement with the international financial organization.
Zooming out, the IMF Mission Chief for El Salvador, Mr. Torres, stated that the country’s economy grew more than expected in 2025, and real GDP growth is expected to reach 4.5% this year. The outlook is being supported by investment and consumer spending, as well as remittances, tourism, and capital inflows. The IMF also pointed to improved security and higher investor confidence as factors supporting the economy. It said the government’s economic policies have helped strengthen fiscal and external buffers.
El Salvador Bitcoin’s Stash
El Salvador became the first country to make Bitcoin legal tender, but its use and accumulation have faced continued opposition from the International Monetary Fund. As part of negotiations for its $1.4 billion IMF program, the country agreed to limit public-sector involvement in BTC, make private-sector acceptance voluntary, and scale back parts of its crypto framework.
The National Bitcoin Office’s reserve tracker currently lists around 7,764 BTC. At the current price of $81,150, the holdings are worth roughly $630 million.
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