IMF Contract vs Blockchain Truth—Is El Salvador Breaking the Rules?
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El Salvador remains firmly committed to its bitcoin strategy, despite conditions tied to a $1.4 billion International Monetary Fund (IMF) loan that call for scaling back cryptocurrency-related activities.
In a Bloomberg News interview at Web Summit Rio de Janeiro on Tuesday Economy Minister Maria Luisa Hayem confirms that El Salvador still buys BTC showing the Bukele administration will not alter its crypto policy. Hayem stated:
“There’s a commitment of President Bukele to keep accumulating assets as a way to do precisely that.”
El Salvador Adds One Bitcoin Daily to Treasury
Blockchain analytics company Arkham Intelligence shows that El Salvador holds 6,162 bitcoins valued at more than $583 million. The firm observes that the government adds one BTC to its treasury every day quietly.
El Salvador keeps stacking.
Even on Sundays.
We will keep adding one more bitcoin to our Strategic Bitcoin Reserve every day.
Just watch …
— The Bitcoin Office (@bitcoinofficesv) April 27, 2025
The nation of El Salvador continues buying BTC directly in 2024 even though it received the IMF loan to repair its economy in 2024. Under the agreement, El Salvador had to stop buying new bitcoins while adopting better financial control systems.
Under the revised agreement businesses kept the choice to accept BTC payments instead of returning to the rule Bukele introduced in 2021.
IMF Statement on Bitcoin Sparks Public Confusion
Crypto experts and internet followers pointed out the unclear details in the IMF’s message about El Salvador’s BTC policies. Lina Seiche commented on the IMF document, which confirmed El Salvador was staying within its no-accumulation promise. Seiche explains that the statement does not prove whether El Salvador must suspend future BTC purchases.
Seems many people didn’t catch the sly wording by the IMF here.
He doesn’t say El Salvador stopped buying bitcoin. He says “they continue to comply with their commitment of non-accumulation.”
Why does he talk about “compliance” with a “commitment”? Because there’s no order from… pic.twitter.com/7Rj1G6wsDs
— Lina Seiche (@LinaSeiche) April 27, 2025
According to her the IMF does not require El Salvador to stop buying BTC today. The officials refer to future evaluation criteria before their scheduled release. Based on this perspective, El Salvador follows all official IMF rules but violates their true objectives in this contract.
El Salvador Doubles Down on Bitcoin Strategy
The Salvadoran government keeps promoting BTC as its main economic strategy even though it faces intense public scrutiny. The importance of Bitcoin remains unchanged in Hayem’s opinion. The Salvadoran government collects digital assets, while private companies also allocate bitcoins to their operations.
According to the IMF El Salvador adheres to all agreed contract requirements. During the IMF Spring Meetings in 2025, Rodrigo Valdes confirmed the government of El Salvador did not make significant BTC purchases since it was a fundamental condition of their multi-billion-dollar loan.
El Salvador’s Strategy Defies Financial Norms
The comparison between official statements and blockchain statistics generates confusion about which BTC transactions qualify as purchases under given reporting requirements.
President Bukele persists in making crypto a vital part of El Salvador’s future even though his choices clash clearly with international financial directives. The Salvadoran government maintains its BTC acquisitions even with IMF commitments as this represents a permanent strategic commitment to cryptocurrency as a national asset.
Conclusion
El Salvador remains dedicated to BTC as its national strategy despite receiving money from IMF and international market observers. Despite following non-accumulation rules the government keeps secretly purchasing BTC as President Bukele shows total dedication to making BTC part of El Salvador’s economic future.
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FAQs
1. Does El Salvador still buy Bitcoin?
Yes, El Salvador continues to acquire one BTC per day despite the IMF conditions.
2. How much BTC does El Salvador hold?
El Salvador holds 6,162 BTC, worth over $583 million.
3. Why does El Salvador keep buying BTC?
Bitcoin is central to El Salvador’s economic strategy, despite IMF pressure.
Glossary Of Key Terms
Bitcoin (BTC): A decentralized digital currency used for peer-to-peer transactions.
IMF (International Monetary Fund): An organization that provides financial support and advice to countries.
Asset Accumulation: The process of gradually acquiring Bitcoin to build economic value.
Fiscal Policies: Government policies for managing finances, taxes, and spending.
Loan Agreement (2024): A $1.4 billion loan from the IMF with specific conditions.
Private Sector Perspective: The role of private businesses in Bitcoin adoption and investment.
References
Read More: IMF Contract vs Blockchain Truth—Is El Salvador Breaking the Rules?">IMF Contract vs Blockchain Truth—Is El Salvador Breaking the Rules?
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