The International Monetary Fund (IMF) praised El Salvador’s stronger-than-expected economic growth in a statement on Monday.
Notably, the update did not include previous suggestions from the IMF that El Salvador would suspend its strategy of accumulating bitcoins. something that country, under the leadership of President Nayib Bukele, has continued to do since negotiating a loan package with the IMF several months ago.
Deviating from its normal strategy of adding bitcoins per day, El Salvador in November added more than 1,000 BTC to its national treasury strategy amid that month’s sharp sell-off. The government has now accumulated almost 7,500 BTC worth about $660 million at current prices.
The IMF noted that negotiations for the sale of the government’s Chivo crypto wallet are “very advanced.” “Discussions continue regarding the Bitcoin project, focused on improving transparency, safeguarding public resources and mitigating risks,” the agency added.
The IMF said El Salvador’s economy is expanding at a faster pace than expected thanks to increased confidence, record remittances and buoyant investment. Real GDP growth is expected to reach around 4% and the outlook for 2026 is “very good.”
In March, El Salvador reached an agreement with the IMF to receive a $3.5 billion loan package. “Close engagement with the Salvadoran authorities is expected to continue in the coming period with the goal of reaching agreement at the staff level on all policies and reforms necessary to complete the second review of the SAF program,” the IMF said.
