IMF Confirms No Bitcoin Purchases by El Salvador

Nayib Bukele, President of El Salvador, contradicts IMF’s report confirming no Bitcoin purchases since December 2024.

The IMF report highlights El Salvador’s halted Bitcoin purchases, impacting fiscal strategies and raising credibility issues.

The IMF has verified that El Salvador has not bought Bitcoin since December 2024. This contrasts with reports from officials, including President Bukele, who claims daily Bitcoin acquisitions. Nayib Bukele Shares Important Bitcoin Development Updates. These conflicting narratives have sparked debate within the crypto community.

Primary actors involved include President Nayib Bukele, Minister of Finance Jerson Rogelio Posada Molina, and Central Bank President Douglas Pablo Rodríguez Fuentes. The IMF’s conditional loan required a pause on Bitcoin purchases, focusing on fiscal policies.

These developments raise questions about El Salvador’s financial strategy. The halt in purchases impacts both national credibility and fiscal stability, affecting market perceptions. Bitcoin, as a central asset, remains under scrutiny amid these changes.

In line with commitments under the program, the stock of Bitcoins held by the public sector remains unchanged, and we are taking steps to mitigate fiscal risks by reducing the public sector’s role in the Chivo wallet and reframing the Bitcoin project. — Douglas Pablo Rodríguez Fuentes, President, Central Bank of El Salvador

IMF terms force regulatory transparency and fiscal responsibility in El Salvador’s Bitcoin project. This decision, highlighted by recent data, emphasizes stabilizing government resources over new acquisitions while minimizing associated risks.

Despite claims of daily Bitcoin purchases, no new inflows are recorded. The government focus on existing holdings rather than acquiring more ensures compliance with IMF terms. This strategic decision reflects regulatory impacts and financial adjustments needed for stability.