The IMF has approved a $139 million disbursement to El Salvador while praising the country for its improved economic performance. However, the fund reiterated its call for El Salvador to reduce state involvement in Bitcoin-related activities, noting that certain performance criteria regarding Bitcoin accumulation were not met. El Salvador made Bitcoin legal tender in 2021 while negotiating a $1.4 billion loan agreement with the IMF. The fund stated that no further Bitcoin accumulation is expected beyond documented donations. President Bukele admitted in 2024 that Salvadorans were not using Bitcoin for purchases as anticipated, despite the government’s continued accumulation strategy.
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