El Salvador adds Bitcoin, but is complying with IMF deal — Director
El Salvador continues to acquire Bitcoin despite IMF statements suggesting compliance with an agreement to halt government Bitcoin accumulation. The treasury purchased 7 Bitcoin worth over $650,000 in the week leading up to April 27. IMF director Rodrigo Valdes confirmed that El Salvador is adhering to its commitment not to accumulate Bitcoin within the fiscal sector. The IMF's December 2024 agreement for a $1.4 billion loan required El Salvador to drop Bitcoin as legal tender and cease BTC accumulation. However, the IMF's flexible interpretation may allow for purchases by non-governmental entities, enabling El Salvador to maintain its Bitcoin-friendly image while addressing public debt. This situation illustrates the tension between financial innovation and traditional economic policies, highlighting the need for robust regulatory frameworks in crypto adoption.
