IMF Confirms Talks on Sale of El Salvador’s Chivo Wallet

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The International Monetary Fund’s mission chief for El Salvador has confirmed that authorities are engaged in negotiations for the sale of the state-operated Chivo Bitcoin wallet. This statement formalizes ongoing discussions regarding the future of the government’s crypto platform.

In a Monday announcement, the IMF noted that El Salvador’s government continues to engage with fund officials on its Bitcoin project, stating that “negotiations for the sale of the government e-wallet Chivo are well advanced.” This development suggests the country may be moving to liquidate some or all of the cryptocurrency holdings within the Chivo system.

These talks follow a May agreement with the IMF, which included a $120 million disbursement as part of a larger $1.4 billion loan facility for 2024. A condition of that arrangement was the government’s commitment to halt further Bitcoin acquisitions.

The extent of El Salvador’s compliance with the loan terms remains unclear. While the IMF reported in July that no official BTC purchases had occurred since December 2024, the national Bitcoin Office has publicly announced subsequent crypto buys, including 1,090 Bitcoin valued near $100 million in November.

The public terms of the IMF agreement stipulate that public sector Bitcoin economic activity be “confined,” private sector acceptance remain voluntary, and involvement with Chivo be wound down. When contacted, an IMF spokesperson stated negotiations for the wallet’s sale are ongoing and declined to provide further transaction details.