According to a footnote in the document:
“Increases in [El Salvador’s] Bitcoin holdings in the Strategic Bitcoin Reserve Fund reflect the consolidation of Bitcoin across various government-owned wallets.”
The IMF also outlined El Salvador’s recent efforts to reduce risk and improve oversight in its Bitcoin strategy.
According to the report, the Central American country’s authorities have committed to limiting further exposure to Bitcoin and increasing transparency around their crypto operations.
The authorities are also expected to provide the IMF with updated, signed statements detailing Bitcoin held by the public sector.
The IMF added:
“Work is underway in enacting a comprehensive framework for managing government-owned Bitcoins and other crypto assets, with the aim of strengthening governance, transparency, and accountability as well as defining the role of the Bitcoin Management Agency, AAB.”
IMF also stated that the Nayib Bukele-led government is moving forward with its plan to end public participation in the Chivo wallet project.
Finally, the report points to ongoing work in reforming the country’s legal framework for digital assets. The IMF is providing technical assistance to help align El Salvador’s regulations with international standards, particularly in areas like asset custody, segregation, and compliance with anti-money laundering and counter-terrorism financing rules.
