IMF says Chivo Bitcoin wallet talks advance in El Salvador review

The International Monetary Fund (IMF) announced significant progress in discussions with El Salvador concerning the future of the state-run Chivo e-wallet, emphasizing the need for enhanced transparency, public fund safeguarding, and risk mitigation. As part of a $1.4 billion Extended Fund Facility (EFF) agreement, El Salvador is obligated to divest from public participation in the Chivo wallet, with current talks centered on selling or privatizing the infrastructure to remove direct government exposure. The EFF also restricts public sector Bitcoin activity, preventing the use of taxpayer or borrowed funds for crypto purchases, though El Salvador continues to expand its holdings, currently possessing 7,509 BTC. Furthermore, the IMF noted that the second review of the EFF showed El Salvador's economy growing faster than expected, supported by high confidence, record remittances, and strong investment.

(Source：Crypto Briefing)