IMF Staff Agreement Maintains Oversight on El Salvador Bitcoin Policy
Staff-level EFF review deal ties El Salvador to donation-only Bitcoin purchases and Chivo wallet transparency before any $140 million disbursement.
The International Monetary Fund reached a staff-level agreement on the second and third combined reviews of El Salvador's 40-month Extended Fund Facility arrangement.
Potential disbursement of about $140 million, or 101.96 million special drawing rights, remains subject to Executive Board approval and completion of prior actions.
The agreement records that Bitcoin purchases since the first review came only from private donations and did not draw on public resources.
Public participation in the Chivo wallet has declined sharply, with most equity and operational control transferred to a private operator while the government retains a minority stake.
Remaining conditions
The two sides signed a memorandum of understanding to modernize the legal and regulatory framework for digital assets and to strengthen public-sector governance and risk management for crypto assets.
El Salvador is expected not to add further Bitcoin beyond the recorded donations and is increasing transparency over wallet holdings.
What remains unknown
Executive Board approval and completion of prior actions are still required. The exact disbursement timeline is not stated.