But they borrowed $1.4 billion from the IMF in December last year, so I feel that they used the loan money to buy bitcoins, even though they promised the IMF not to use public funds to buy bitcoins.
They never promised IMF on anything unrelated to that, IMF only warned them to be cautioned regarding any kind of investment like bitcoin that could be volatile, though there may be terms to the granting of the loan, but I don't think buying bitcoin is part of what could be termed as breach of law according to their agreement, this only shows how El-Salvador is been logical in their investments and IMF may only borrow them money, but not to dictate for them.
Then I have a question, that is, the current bitcoin price is so good, why doesn't El Salvador pledge bitcoins to lending platforms to obtain an annualized rate of return, which is about 6% to 9%, and they have 6188 bitcoins, worth 657,911,721USD, and can earn 59 million USD in interest each year.
Had it been this your idea could have helped, they would have taken it right from time, even before considering IMF, but as I've said, they know what they are doing.
How much help does this have for the El Salvadoran economy?
Check on the El-Salvador thread and know how bitcoin adoption has transformed them in many ways to what they are today, such that so many people who are into crypto are taking El-Salvador a learning ground for bitcoin because it's enabling for anything that has to do with this digital currency.