Back
IMF Says Chivo Bitcoin Wallet Talks Advance in El Salvador Review

IMF Says Chivo Bitcoin Wallet Talks Advance in El Salvador Review

The IMF confirms smooth negotiations for the sale of El Salvador’s state-run Chivo wallet, alongside parallel talks on Bitcoin purchases and economic reform progress.

BTC

Fact Check
The assessment is based on consistent evidence from multiple highly relevant, albeit secondary, sources, with no contradictory information provided.Two social media posts from a crypto-focused news outlet directly support the statement. One explicitly reports that the IMF urged El Salvador regarding its Bitcoin policy. The other reinforces this by indicating that El Salvador's actions concerning Bitcoin's legal tender status were intended to align with an IMF loan agreement, which establishes a clear context for the IMF to be making such recommendations or demands.While these sources have low authority scores (0.30), their relevance is exceptionally high (0.95 and 0.80), and their claims are consistent with each other. The institutional role of the IMF involves providing financial stability advice to member countries, and recommending against holding a volatile asset like Bitcoin, especially while negotiating a loan, is a highly plausible action for the organization.The most authoritative sources, the official IMF website and President Bukele's X account, are the definitive places to confirm such a statement. However, the provided summaries for these sources are general and do not contain specific information to either confirm or deny the claim directly. Critically, there is no evidence from any source that contradicts the statement.Therefore, based on the available evidence, which points in a single, consistent direction, the statement that the IMF urged El Salvador to halt its Bitcoin purchases is assessed as likely true with high confidence.
    Reference: 12
Summary

The IMF’s El Salvador mission chief stated that the government is in advanced negotiations to sell the Chivo Bitcoin wallet, with discussions proceeding smoothly. Monday’s IMF statement also noted that separate talks regarding Bitcoin purchases are underway. These negotiations are part of broader economic reform measures under the $3.5 billion Extended Fund Facility program. The IMF continues to engage with El Salvador as the nation pursues its Bitcoin strategy, maintaining dialogue on transparency, public fund protection, and risk management.

Terms & Concepts
  • Chivo wallet: A state-backed digital wallet launched by El Salvador to facilitate Bitcoin transactions for citizens.
  • Bitcoin policy: A country’s regulatory and operational framework for dealing with Bitcoin and other cryptocurrencies.
  • Extended Fund Facility (EFF): An IMF lending arrangement designed to provide financial assistance to countries with balance of payments problems, supporting economic reform programs.