The International Monetary Fund has announced that negotiations for the sale of El Salvador’s state-run Chivo Bitcoin wallet are “well advanced.” This confirmation comes directly from the IMF’s mission chief for the Central American nation.
In a statement issued Monday, the fund said El Salvador’s government is maintaining dialogue regarding its Bitcoin initiatives. The advanced stage of talks over the Chivo e-wallet points toward a possible upcoming transaction involving the platform and its holdings.
This development is tied to a broader $1.4 billion loan agreement from the IMF, which included a $120 million disbursement finalized in May. A key condition of this arrangement was the cessation of state Bitcoin purchases by El Salvador.
Adherence to this condition is not entirely clear. The IMF reported in July that the government had not bought Bitcoin since December 2024. However, the country’s Bitcoin Office has publicly announced subsequent crypto acquisitions, including a major purchase of 1,090 Bitcoin in November valued at around $100 million.
The public terms of the IMF deal call for constrained public sector Bitcoin activity, voluntary private sector use, and a phasedown of the Chivo wallet operation. The IMF, when reached for comment, stated negotiations are ongoing and offered no further details on the potential sale.
