PANews reported on May 28 that according to CoinDesk, the International Monetary Fund (IMF) said it would continue to work to ensure that the amount of Bitcoin held by the Salvadoran government remains unchanged. Earlier in March, El Salvador reached a $3.5 billion loan agreement with the IMF, with conditions including the cancellation of Bitcoin's legal currency status and prohibiting the public sector from voluntarily increasing its holdings of Bitcoin.
However, data shows that El Salvador's bitcoin reserves have increased from 6,101.15 on March 4 to 6,189.18 (worth about $678 million) at present. President Bukele made it clear that the purchase of bitcoins will not stop, saying that "even when the world isolated us and most bitcoin enthusiasts abandoned us, we did not stop now and in the future." The IMF did not directly mention the contradiction in its latest report, only stating that El Salvador's "project implementation is good" and key fiscal and reserve targets have been achieved.
