The International Monetary Fund has added new conditions to the 40-month, $1.4 billion Extended Fund Facility (EFF) for El Salvador. When it was initially approved in December, it already contained strict limitations on government Bitcoin activities, while allowing retention of existing holdings.
“Going forward, program commitments will confine government engagement in Bitcoin-related economic activities, as well as government transactions in and purchases of Bitcoin,” Nigel Clarke, deputy managing director and acting chair of the IMF board, wrote in a statement.
The agreement, detailed in a March 2025 IMF Country report published Monday, imposes three key crypto-specific requirements.
First, a “continuous quantitative performance criteria” prohibits any new Bitcoin acquisitions by public sector entities, maintaining a “ceiling of 0” throughout the program period.
The new arrangements also mandates liquidation of the Fidebitcoin trust fund by July 2025 and termination of government participation in the Chivo wallet system.
The third key requirement is the publication of all government Bitcoin wallet addresses, segregation of Chivo user funds, and audited financial statements for crypto-related entities.
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