El Salvador, the first country in the world to adopt bitcoin as a legal tender, still acquires bitcoin despite the comments of the International Monetary Fund (IMF) seeming to claim the opposite.
The Treasury of El Salvador acquired 7 Bitcoin (BTC) worth more than $ 650,000 during the seven days preceding on April 27, data from the blockchain of the Bitcoin office of El Salvador.
Asked about the country’s bitcoin investments, Rodrigo Valdes, director of the western hemisphere department of the IMF, said the country continues to comply with its agreement to stop the accumulation of the Bitcoin government.
“In terms of El Salvador, let me say that I can confirm that they continue to comply with their commitment to non-accumulation of Bitcoin by the global budget sector, which is the performance criteria that we have,” said Valdes during a press briefing of April 26.
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“But in addition to that, I think that is very important for the discussion in Salvador,” he added. “The El Salvador program does not concern Bitcoin. It is much more, much more deeply in structural reforms, in terms of governance, in terms of transparency. ”
In December 2024, El Salvador concluded an agreement with the IMF for a loan of $ 1.4 billion, which forced the government to lower Bitcoin status as a legal tender and to stop its BTC accumulation.
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Flexible interpretation leaves room for Bitcoin purchases
The IMF agreement can always allow a place for purchases through non -governmental entities, according to Anndy Lian, author and intergovernmental Blockchain.
“The flexible interpretation of the IMF suggests that purchases can involve entities in the non -public sector or reclassified assets, maintaining technical compliance,” Lian told Cointelegraph, adding:
“This alternative approach allows El Salvador to maintain its image suitable for Bitcoin while obtaining critical funding from the IMF to resolve an unsustainable public debt and limited reserves.”
Lian added that El Salvador’s strategy highlights the growing tension between financial innovation and traditional economic policies.
“El Salvador’s experience offers valuable lessons for nations that explore the adoption of cryptography, highlighting the need for robust regulatory frameworks and state capacity to navigate international financial pressures,” he added.
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