The International Monetary Fund has reached a staff-level agreement with El Salvador on the combined second and third reviews of the country’s Extended Fund Facility, confirming that Bitcoin added to public holdings since the first review originated entirely from private donations. The finding removes a key compliance question that had surrounded the program and positions the Central American nation to receive approximately $140 million once the IMF Executive Board gives its approval and prior actions are completed.

Verification of Bitcoin Sources

El Salvador entered the 40-month Extended Fund Facility in February 2025 with total access of about $1.4 billion, equivalent to 360 percent of its IMF quota. The first review was completed on June 27, 2025. At that time the Fund noted that public-sector Bitcoin holdings had not grown through new purchases and that movements reflected consolidation among government-controlled wallets.

Subsequent increases in the Strategic Bitcoin Reserve raised fresh questions, particularly after authorities reported an acquisition of 1,090 Bitcoin valued at $100 million in November 2025. In its latest statement the IMF said documentation supplied by Salvadoran authorities verified that accumulation recorded after the first review came from private donations and that no public resources were used. The Fund also stated that no further Bitcoin accumulation beyond the documented donations is expected.

As of early September 2026, official trackers showed El Salvador holding approximately 7,764 Bitcoin. At prevailing market prices near $81,000 the stockpile was valued at roughly $628 million. The country’s average acquisition cost has been reported near $67,290 per Bitcoin, leaving an unrealized gain of more than $230 million.

Chivo Wallet Ownership Transfer

Alongside the Bitcoin verification, the IMF noted that public participation in the Chivo e-wallet has been substantially reduced. Majority ownership and operational control have been transferred to a private operator. The government retains a minority stake and custodial responsibilities for customer assets. Authorities are also working to improve transparency of Bitcoin balances held across different wallet addresses.

These steps align with earlier program conditions that limited public-sector engagement in Bitcoin-related activities, made private-sector acceptance of Bitcoin voluntary, and required taxes to be paid in U.S. dollars.

Economic Performance and Program Outlook

IMF Mission Chief Torres said El Salvador’s economy continues to perform strongly. Real GDP growth exceeded expectations in 2025 and is projected to reach 4.5 percent in 2026, supported by investment, private consumption, remittances, tourism and capital inflows. Improved security conditions have contributed to greater investor confidence.

On the fiscal side, the non-financial public sector primary surplus is expected to rise from 2.9 percent of GDP in 2026 to 3.7 percent in 2027. The trajectory remains consistent with the Fiscal Responsibility Law objective of reducing public debt to 80 percent of GDP by 2030. Additional reforms under discussion include pension system adjustments, civil service improvements, stronger anti-money-laundering frameworks and modernization of the legal and supervisory regime for digital assets.

The staff-level agreement remains subject to Executive Board approval. If granted, the next disbursement of about $140 million would bring total funds released under the program higher, following earlier payments totaling SDR 172.32 million. The IMF emphasized that continued reform implementation will be essential to maintain macroeconomic stability and support private-sector-led growth.

El Salvador’s Bitcoin holdings continue to fluctuate in value with market prices, yet the confirmed donation-only source of recent additions has clarified the fiscal boundary between private contributions and public resources under the IMF arrangement.