IMF Confirms El Salvador’s Bitcoin Holdings Stem from Private Donations

The International Monetary Fund (IMF) has clarified the source of El Salvador’s Bitcoin reserves after completing its second and third reviews of the country’s $1.4 billion extended fund facility.

Private Donations, Not Public Funds

Documentation reviewed by the IMF shows that all Bitcoin added to the nation’s Strategic Bitcoin Reserve since the facility’s approval on 26 February 2025 originated from private donations. The IMF stated that no public resources were used for these purchases and that no further accumulation is expected beyond the documented contributions.

Implications for IMF Funding

Following the clarification, the IMF released a staff‑level agreement to disburse $140 million to El Salvador as part of the 40‑month funding arrangement. The IMF also highlighted projected GDP growth of 4.5 % for 2026.

Changes to the Chivo Wallet

Concerns over the government‑run Chivo e‑wallet have been addressed. Control and majority ownership of Chivo have been transferred to private entities, with the government retaining a minority stake and custodial responsibilities for customer assets. The IMF noted that public participation in Chivo has been substantially unwound, improving transparency of Bitcoin holdings across wallets.

Speculation on Donor Identity

John Dennehy, founder of the non‑profit My First Bitcoin, suggested that stablecoin issuer Tether could be behind the donations, citing the company’s relocation of its headquarters to El Salvador in January 2025. No official confirmation of the donor’s identity has been provided.