El Salvador Halts Public Bitcoin Purchases To Meet IMF Loan Terms While Private Accumulation Continues
The post El Salvador Halts Public Bitcoin Purchases To Meet IMF Loan Terms While Private Accumulation Continues appeared on BitcoinEthereumNews.com.
Key Takeaways: El Salvador suspends public sector Bitcoin purchases to comply with IMF $1.4 billion loan conditions. President Nayib Bukele continues Bitcoin accumulation through alternative non-public funding channels. El Salvador keeps its Bitcoin plan and works for more general economic changes even under IMF pressure. The first government to make Bitcoin legal currency, El Salvador has stopped public sector Bitcoin buys per its IMF deal. However, the country’s Bitcoin strategy is far from abandoned, as private acquisitions continue under new mechanisms. Read More: El Salvador’s Crypto Reality Check: 89% of Registered Bitcoin Firms No Longer Active El Salvador’s adherence to IMF loan requirements El Salvador has stopped buying Bitcoin with public sector funding, the International Monetary Fund has verified. Rodrigo Valdes, director of the IMF’s Western Hemisphere Department, said during a press conference that El Salvador stays completely in line with its loan terms. The IMF ordered El Salvador to halt public Bitcoin accumulation by government agencies as part of a $1.4 billion Extended Fund Facility. Valdes emphasized that El Salvador is not only respecting the Bitcoin-related terms but is also progressing in fiscal transparency, structural reforms, and governance improvements. “The general fiscal sector keeps meeting its performance criteria by continuing to follow their non-accumulation of Bitcoin commitment,” Valdes stated. The IMF’s recognition allays past worries that El Salvador would be evading its responsibilities. Given the larger goals of the IMF program, which goes beyond bitcoin to deep-seated structural reforms meant to increase private investment and support economic development, this action is noteworthy. Read More: IMF Integrates Cryptocurrencies into Global Economic Data Reporting El Salvador’s 6,158 BTC of Bitcoin, now worth over $583 million at current market values, have greatly appreciated since first acquisitions. Alternative Strategies for Bitcoin Accumulation Although Bitcoin purchases with public funds have ceased, El Salvador’s overall…
Filed under: News - @ April 27, 2025 3:17 pm