IMF, El Salvador Bitcoin Talks Continue: Chivo e-Wallet Sales Under Microscope

El Salvador's Bitcoin gambit keeps the IMF's phones ringing. The high-stakes dialogue between the Central American nation and the global financial watchdog rolls on, with the controversial Chivo e-wallet project sitting squarely on the negotiating table.

The Unfinished Business of Bitcoin Adoption

It's not just about making Bitcoin legal tender anymore. The real conversation now drills down into operational mechanics—specifically, how a state-backed digital wallet fits into the rigid frameworks of international finance. Every transaction, every user onboarding process, every line of code is being parsed under the IMF's analytical glare.

When Sovereign Vision Meets Global Scrutiny

El Salvador's play was a defiant sidestep around traditional monetary policy, a bet that digital sovereignty could trump established economic doctrine. The IMF's persistent engagement signals this isn't being dismissed as a quirky experiment; it's being treated as a potential precedent. The talks aren't about reversing course—they're about defining the guardrails for a financial future that's already being built.

The saga continues, proving that in global finance, innovation is just the opening bid. The real negotiation starts when you ask the old guards to help write the new rules—usually right after they've finished a lecture on fiscal responsibility.

IMF Continues Bitcoin Discussions With El Salvador

In the Tuesday update, the IMF emphasized that further Bitcoin discussions with El Salvador will be centered on factors like transparency and mitigating risks.

Further, the IMF praised the Central American nation for its economic growth, which it says is “expanding at a faster than anticipated.”

“Real GDP growth is projected to reach around 4% this year and with very good prospects for next year,” it added.

Gradually, then suddenly. https://t.co/MWP0avqlDE pic.twitter.com/hYYONaRLcI

The recent update details the progress of the second review of El Salvador’s 40-month Extended Fund Facility (EFF).

Is Salvador Still Stacking BTC?

Last month, El Salvador added 1,098 BTC to its national Bitcoin treasury, worth nearly $100 million, doubling down on its accumulation strategy, despite a significant market selloff.

Per Salvador’s Bitcoin Office transaction data, the country is still stacking the crypto asset, with the latest purchase reported on December 22. The country reported increasing its reserves to 7,509 BTC.

#DeDinero | Reserva de bitcóin de El Salvador alcanza 7,509 unidades

El hito se logró gracias a una política de compras diarias de un BTC. @bitcoinofficesv @stacyherbert https://t.co/ra7aNnhvYF pic.twitter.com/nMLkuh0g6q

The sustained policy of daily acquisitions – one Bitcoin per day – has been maintained even during periods of high volatility.

In May, the IMF said that “efforts will continue” to ensure El Salvador doesn’t accumulate more BTC. Nevertheless, El Salvador has kept purchasing more BTC in apparent contradiction with the terms of the IMF deal agreement.

“No, it’s not stopping,” Salvadoran President Nayib Bukele posted on X on March 4. “If it didn’t stop when the world ostracized us and most “Bitcoiners” abandoned us, it won’t stop now, and it won’t stop in the future.”