El Salvador complies with IMF deal while growing Bitcoin reserves, according to Rodrigo Valdes, director of the IMF’s Western Hemisphere Department. Despite accumulating more BTC, the government has not breached any terms of the agreement signed with the IMF in December 2024.
$1.4 Billion IMF Loan and Bitcoin Commitment
In late 2024, El Salvador secured a $1.4 billion loan from the IMF, agreeing to halt direct public investments in Bitcoin. However, recent data from the government’s Bitcoin Office shows an increase of 29 BTC over the last month, bringing the total to 6,160 BTC worth approximately $578.9 million.
Bitcoin Purchases Outside the State Budget
Rodrigo Valdes clarified that El Salvador is not violating its commitments because Bitcoin purchases are not financed through the national budget. Instead, acquisitions are reportedly made via non-governmental entities, allowing compliance while maintaining a crypto-friendly stance.
Broader Structural Reforms at Play
Valdes emphasized that El Salvador’s IMF-backed program focuses on deeper structural reforms in governance and transparency, not solely on Bitcoin policy. The country’s broader reform agenda remains on track according to the IMF.
Bitcoin Investments Show Strong Returns
Since starting Bitcoin purchases in October 2021, El Salvador has amassed unrealized profits of 99%, amounting to about $154.3 million. The country’s average annualized return on crypto investments is now 28% — a remarkably strong performance.
