The International Monetary Fund (IMF) has stated that El Salvador continues to honor its commitment not to increase its Bitcoin holdings through the public sector.
During the recent 2025 Spring Meetings of the IMF’s Western Hemisphere Department, a clarification emerged regarding El Salvador position on its Bitcoin reserves. Rodrigo Valdes, Director of the Western Hemisphere Department at the IMF, responded to a question about why the country had been moving Bitcoin between different wallets.
Valdes stated:
“I can confirm that they continue to comply with their commitment of non-accumulation of bitcoin by the overall fiscal sector.”
Bitcoin just one part of broader reforms for El Salvador
Valdes emphasized that El Salvador’s economic program is not solely about Bitcoin. “The program of El Salvador is not about bitcoin. It’s much more, much deeper in structural reforms, in terms of governance, in terms of transparency,” he explained.
The Central American nation is currently implementing changes to make government operations more transparent. Fiscal reforms remain a key component of the agenda, and Valdes confirmed that authorities are actively working on their implementation.
The economic program
The country’s agreement with the IMF is a 40-month program worth $1.4 billion, which could rise to around $3.5 billion with potential contributions from other international financial institutions.
Valdes pointed out that a “important fiscal adjustment” is currently underway as part of the plan. The goal is to create a more favorable environment for private investment and stimulate faster economic growth.
The IMF is preparing its first comprehensive review of the program. The director noted that the country now stands on much stronger macroeconomic foundations compared to the past. Additionally, improvements in public security achieved in recent years are expected to bring further benefits alongside the broader economic progress, according to Valdes.
