El Salvador added 1,540 Bitcoin, IMF says no public funds used
IMF disclosure says no public resources funded El Salvador's recent 1,540 BTC accumulation.
El Salvador's bitcoin holdings rose by 1,540 coins in the period under review, according to a new IMF disclosure. The report says no public resources were used to pay for those purchases.
IMF review challenges official messaging
The disclosure came out of the IMF's first review of El Salvador's economic program. It contradicts the government's usual narrative of buying one bitcoin per day with public funds, and leaves the actual funding source unclear.
Neither the IMF nor El Salvador's government has specified where the funds came from. The discrepancy raises questions about transparency around the country's bitcoin acquisition strategy.
Background
El Salvador made bitcoin legal tender in September 2021, becoming the first country to do so. President Nayib Bukele has repeatedly shared updates on the national bitcoin wallet and purchases, but this is not the first time international bodies have flagged concerns about the policy.