IMF ensures that El Salvador Government has not acquired more Bitcoin since they reached an agreement

Although President Bukele and state agencies have said otherwise, a report published by the IMP He assures that the agreed agreements have not been breached around Bitcoin’s purchases with public funds, and that discrepancies could be due to data associated with Wallet goat.

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• He IMP He revealed that El Salvador has not increased his reservations of Bitcoin.
• Wallet goat generates “Minor discrepancies” In the reported data, says the agency.
• Bukele insists that he will continue to buy BTC Despite the agreement with the IMP

He International Monetary Fund (IMF) on Tuesday published a report in which he states that, The Government of El Salvador has not made new purchases of Bitcoin Since signed a loan agreement for USD $ 1.4 billion in December 2024. The report contradicts the statements made by the Bitcoin office from the country, which claimed to continue accumulating BTC daily.

The discrepancy was clarified in a letter of intent included in the document, signed by the president of the Central Bank, Douglas Pablo Rodríguez Fuentes, and the Minister of Tax authorities, Jerson Rogelio Posada Molina. There it is stated that “The Bitcoins stock maintained by the public sector remains unchanged ”, reports Cointelegraph.

The role of the Wallet goat and the “minor discrepancies”

According to him IMF, The state purse Billy goat does not adjust your reservations of Bitcoin to reflect the changes in user deposits. This means that, although the application receives BTC On the part of citizens or private users, these movements do not imply that the government is increasing their reserves.

The report explains that the Wallet goat does not make sales of BTC, what has generated “Minor discrepancies” that could give the false impression that the public sector continues to accumulate cryptocurrencies. Nevertheless, They clarify that the government is taking measures to reduce its role in this application and “reformulate the Bitcoin project” in line with loan conditions.

The agreement with the IMP and the regulatory setback

El Salvador agreed to the loan of IMP in exchange for limiting your exposure to Bitcoin. As part of the agreement, in January 2025, the Legislative Assembly reformed the law Bitcoin so that the acceptance of BTC As legal tender was voluntary.

In addition, they promised not to continue accumulating Bitcoin With state funds, a central point for fiscal stability than the IMP It requires as a condition for the progressive disbursement of the funds.

However, the public statements of officials, in particular of the Bitcoin officeThey have suggested a different narrative. On several occasions, during the last months, this office assured that the country continued to buy BTC daily.

Bukele’s challenging answer

The tension between the IMF and the Salvadoran government reached its highest point in March 2025, when the international body sent a notice requesting that El Salvador stop the accumulation of Bitcoin. President Nayib Bukele’s response was overwhelming.

“No, he does not stop. If he did not stop when the world turned his back on us and most of the ‘bitcoiners’ abandoned us, he will not stop now or in the future,” and andBukele scheduled in a message posted on March 4 in his X account.

This position reinforces the image of the president as a firm defender of Bitcoin, even against the recommendations of multilateral organisms. His strategy has made El Salvador a global study case on the state adoption of cryptoactive.

The contradiction between Bukele’s official discourse and the information contained in the report of the IMP It has generated confusion in the crypto community. While the Government claims to continue with the accumulation strategy, the official documents of the loan and the letters signed by senior officials indicate otherwise.

Until the moment of publication, nor the El Salvador Bitcoin Office or the National Digital Assets Commission They have issued comments regarding the report initially disseminated by the IMP

The strategic relevance of El Salvador

El Salvador was the first country in the world to adopt Bitcoin As a legal tender in September 2021, a decision that positioned the Nation as a pioneer in the international policy at the international level. However, its implementation has been observed cautiously by economists, international organizations and credit rating agencies.

The report of IMP revives tensions between the country’s economic development objectives and its commitment to an alternative monetary policy based on digital assets. What happens in the coming months could influence how other developing countries address the state use of cryptocurrencies.

Article prepared with artificial intelligence support, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, created with artificial intelligence, for free use, licensed under public domain

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