IMF Confirms Continued Efforts to Limit El Salvador’s Bitcoin Accumulation
The International Monetary Fund (IMF) reaffirmed its commitment to ensuring that El Salvador's government does not increase its bitcoin holdings. Key points include:
- In March, El Salvador secured a $3.5 billion loan from the IMF, with conditions including the loss of bitcoin's legal tender status.
- The IMF prohibited the public sector from voluntarily accumulating bitcoin.
- Despite this, El Salvador has increased its bitcoin holdings from 6,101.15 to 6,189.18, valued at approximately $678 million.
- President Nayib Bukele confirmed on March 4 that purchases would continue, stating, "If it didn’t stop when the world ostracized us, it won’t stop now."
- The IMF reported strong program performance and compliance with fiscal targets, thanking Salvadoran authorities for collaboration.