BTC $85,605 
ETH $2,709 
USDT $0.9999 
BNB $775.10 
XRP $1.51 
USDC $0.9999 
SOL $120.49 
TRX $0.3351 
FIGR_HELOC $1.01 
ZEC $1,370 El Salvador receives $138M IMF payout after Bitcoin rule waiver
The IMF approved the disbursement after waiving El Salvador's breach of a public-sector Bitcoin accumulation limit tied to its $1.4 billion loan program.
Key takeaways
- $138M disbursement approved. The IMF released roughly $138 million to El Salvador on October 1, 2026, after waiving its Bitcoin accumulation rule breach.
- No new public Bitcoin buys. The waiver does not permit El Salvador to resume government-funded Bitcoin purchases under the current loan program.
- 2026 GDP growth forecast 4.5%. The IMF projects El Salvador's economy will grow 4.5% in 2026 and 4% in 2027.
What happened
On October 1, 2026, the International Monetary Fund's Executive Board finalized the second and third reviews of El Salvador's 40-month Extended Fund Facility, a $1.4 billion loan program first approved in February 2025. The board released a disbursement of SDR 101.96 million, valued at roughly $138 million, and granted waivers for multiple unmet performance criteria, including a rule that limited voluntary public-sector Bitcoin accumulation. The IMF stated the waiver was issued after El Salvador submitted documentation proving recent Bitcoin additions to government-controlled wallets originated as private donations, with no public funds used, and after the country implemented corrective measures such as transferring majority ownership and operational control of the state-backed Chivo wallet to a private operator.
Why it matters
The waiver allows El Salvador to access the $138 million in immediate funding while maintaining its existing loan program terms. The IMF's confirmation that the Bitcoin additions were private donations resolves earlier questions about wallet movements that appeared to show the government continuing to accumulate Bitcoin after agreeing to limit state holdings. The decision also reinforces the IMF's requirement that El Salvador reduce its direct involvement in the Chivo wallet, with the Fund stating the remaining public-sector stake in the platform should be fully unwound and no further government-funded Bitcoin purchases will be permitted under the current agreement.
What is still unclear
- The identities of the private donors who provided the Bitcoin documented to the IMF, and the individual amounts of each donation, have not been made public.
Questions readers ask
Why did the IMF waive El Salvador's Bitcoin rule breach?
The IMF granted the waiver after El Salvador provided documentation showing recent Bitcoin in government-controlled wallets came from private donations, with no public funds used, and after the country implemented corrective measures including transferring majority ownership and operational control of the Chivo wallet to a private operator.
Can El Salvador use public funds to buy more Bitcoin under the current IMF program?
No. The IMF stated no further Bitcoin accumulation is expected beyond documented private donations under the current lending program commitments, and the waiver does not authorize a return to government-funded Bitcoin purchases.
When did El Salvador remove the mandatory Bitcoin acceptance requirement for businesses?
El Salvador amended its Bitcoin Law in 2025, eliminating the requirement for businesses to accept Bitcoin and requiring all tax payments to be made in U.S. dollars.
