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10/04/2026

El Salvador Secures $138M IMF Disbursement After Bitcoin Waivers

What happened: The IMF approved the second and third reviews of El Salvador's $1.

El Salvador Secures $138M IMF Disbursement After Bitcoin Waivers

What happened: The IMF approved the second and third reviews of El Salvador's $1.4 billion Extended Fund Facility, resulting in a $138 million disbursement after granting waivers for missed Bitcoin accumulation criteria. The IMF accepted that recent BTC additions came from private donations, not public funds, and stated that no further state accumulation is planned. Chivo wallet operations were transferred to a private operator, with the government retaining a minority stake.

Why it matters: The deal marks a pragmatic shift for El Salvador, which maintains its pro-Bitcoin narrative while complying with IMF restrictions to secure funding. The arrangement reflects a compromise: El Salvador can continue to tout its Bitcoin experiment, but must limit direct state involvement to satisfy international lenders. The IMF commended the country's fiscal performance and progress on anti-money laundering reforms.

Source: Cointelegraph