IMF Says Chivo Bitcoin Wallet Talks Advance in El Salvador Review

PermabullPete · 2025-12-23T15:21:20+00:00

The IMF reports substantial progress in talks regarding the sale of El Salvador's Chivo Bitcoin wallet, emphasizing transparency and risk mitigation as the country prepares to reduce its public sector involvement in Bitcoin activities.

PermabullPete

2025-12-23 15:21:20

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Source: CryptoBriefing Original Title: IMF says Chivo Bitcoin wallet talks advance in El Salvador review Original Link: https://cryptobriefing.com/el-salvador-bitcoin-imf-review/

Overview

The International Monetary Fund (IMF) said talks on selling El Salvador’s Chivo e-wallet have made substantial progress, with an emphasis on enhancing transparency, safeguarding public funds, and mitigating associated risks.

Under a $1.4 billion Extended Fund Facility (EFF) agreement with the IMF approved earlier this year, El Salvador is committed to unwinding public participation in the state-run Chivo wallet. Reports say talks are underway to sell or privatize the Chivo infrastructure, removing the government’s direct exposure.

Key Points

Restrictions on Public Sector Bitcoin Activity

The agreement also limits public sector Bitcoin activity to prevent the use of taxpayer or borrowed funds to buy crypto assets. This effectively bars the government from purchasing additional Bitcoin.

Continued Bitcoin Holdings

Despite that, El Salvador continues to expand its Bitcoin holdings. According to data from the National Bitcoin Office, the country now holds 7,509 BTC worth over $65 million.

Economic Progress

The IMF and El Salvador also reported progress on the second review of the EFF, noting economic expansion at a faster pace than anticipated, driven by high confidence, record remittances, and strong investment.

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TestnetScholar

· 12-26 15:21

What are we negotiating with the IMF for? Honestly, it's just about shedding this burden. The Chivo wallet issue should have been dealt with a long time ago.

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SignatureCollector

· 12-23 15:51

The IMF is at it again, saying something about "risk mitigation", but isn't it just trying to get El Salvador to give up the Bitcoin standard? This tactic is all too familiar.

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PseudoIntellectual

· 12-23 15:49

Is the IMF stirring up trouble again? Is El Salvador being forced to compromise or is it a voluntary retreat... It feels like another old trick of the big powers to suppress.

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ExpectationFarmer

· 12-23 15:47

Is there new movement regarding the chivo Wallet? The IMF seems to be easing up, preparing for El Salvador to slowly exit the Bitcoin game, right?

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DegenWhisperer