El Salvador has not used public funds to accumulate Bitcoin since June 2025, according to the International Monetary Fund. The IMF said the government provided documentation showing that subsequent additions to its Bitcoin holdings came from private donations.

The disclosure was included in an IMF staff-level agreement announced Sept. 3 covering the second and third reviews of El Salvador's 40-month Extended Fund Facility. Subject to approval by the IMF Executive Board, the agreement could release about $140 million in additional financing. The facility was approved in February 2025 to support the country's economic reform agenda and total access stands at about $1.4 billion.

IMF Seeks Greater Transparency Over El Salvador's Bitcoin Holdings

According to information published by @coinbureau, the IMF expects no further Bitcoin accumulation beyond documented donations. The Fund also continues to emphasize transparency and stronger governance around crypto assets held by the public sector.

The latest agreement marks a further development in the IMF's efforts to limit fiscal and financial risks associated with El Salvador's Bitcoin strategy. El Salvador became the first country to adopt Bitcoin as legal tender in 2021, and the arrangement with the IMF followed years of Fund concerns about the fiscal exposure created by public-sector Bitcoin holdings. As part of the program earlier in 2025, legislation was adjusted so that businesses are no longer required to accept Bitcoin, scaling back the original legal-tender framework.

Under the program, authorities have committed to strengthening the legal, regulatory, and supervisory framework for digital assets and improving governance and risk management for public-sector crypto holdings.

The IMF previously required El Salvador to provide information identifying public-sector Bitcoin wallets and the corresponding amounts held or controlled by government entities. The broader program also called for greater transparency around the government's Bitcoin operations and the unwinding of public-sector participation in the Chivo wallet, the state-backed digital wallet launched alongside the 2021 Bitcoin adoption.

$140 Million Financing Awaits IMF Board Approval

The latest staff-level agreement could provide El Salvador with approximately $140 million, although the funds remain subject to approval by the IMF Executive Board and completion of agreed prior actions.

The distinction between government purchases and private donations could become increasingly important as El Salvador manages its Bitcoin holdings under IMF-backed fiscal reforms. While the government has maintained its Bitcoin strategy, the Fund is seeking clearer documentation of ownership, wallet activity, and the risks associated with public-sector crypto assets.

The next key step is the IMF Executive Board's consideration of the latest review, which will determine whether the additional $140 million in financing can be released.