El Salvador continues to purchase Bitcoin through unofficial channels even after IMF agreement

El Salvador has purchased additional Bitcoin, but the head of the IMF said that it is complying with the IMF agreement. On the 27th (local time), it became the first country in the world to adopt Bitcoin as legal tender.
El Salvador, which adopted Bitcoin, has been found to still be purchasing Bitcoin, despite statements to the contrary from the International Monetary Fund (IMF).
According to blockchain data from the El Salvador Bitcoin Office, the Ministry of Finance of El Salvador purchased 7 BTC, or roughly $650,000, in the week leading up to April 27.
In response to a question about El Salvador's bitcoin investments, Rodrigo Valdés, IMF's Western Hemisphere Country Director, said:
Valdes said, "El Salvador is complying with its commitments to stop stockpiling Bitcoin at the government level."
"In the case of El Salvador, the entire financial sector has set a performance standard of not accumulating additional Bitcoin," Valdez said at a press conference on the 26th.
"I can confirm that we continue to comply with the program," he said. "The important thing to remember about the El Salvador discussion is that this program is not about Bitcoin.
"This is a much deeper program that focuses on structural reforms, including governance and transparency," he said.
El Salvador signed a $1.4 billion loan agreement with the IMF in December 2024 and will grant Bitcoin legal tender status.
The government has agreed to withdraw its support and stop stockpiling Bitcoin at the government level.
Lian explained that "the IMF agreement can be interpreted flexibly to allow bitcoin purchases through non-public sector institutions," and
"The IMF's flexible interpretation could mean purchases through non-public sector entities or reclassified assets, thereby technically complying with the agreement," he said.